Abu Dhabi’s Multiply Group reports robust Q1 results, with a net profit (excluding fair value changes) of Dh393 million, marking a 48% increase from Q1 2023’s Dh266 million.
Group revenue surged by 45% year-on-year to Dh391 million, propelled by growth in all sectors and the integration of Media 247 and BackLite Media into the media segment.
Expanding Horizons: Multiply Group’s Diverse Portfolio and IPO Plans
During a media briefing, the group’s CEO and managing director, Samia Bouazza, stated that the company is gearing up for a potential initial public offering (IPO) of its media unit within the next 12 months.
“We are preparing the media vertical for an IPO,” she noted. “We will only go [for listing] when each company has optimised its performance through digital transformation and the synergies that we’re creating across the vertical,” Bouazza mentioned.
Listed on the Abu Dhabi bourse since December 2021, Multiply Group boasts an expanding portfolio comprising eight subsidiaries across five nations. Its primary assets span four promising sectors: mobility, energy and utilities, media and communications, and beauty and wellness. As of March 31, its total assets reached Dh39 billion.
Source: FinanceWorld
