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Abu Dhabi-based Multiply Group, a subsidiary of International Holding Company (IHC), on Tuesday said it made a Q1 2023 net profit of 508,000 dirhams ($138,325) versus AED 334.9 million in the year-ago period as it took a AED 265 million fair value loss.
Investment and other income for the period was AED 14.12 million compared with AED257 million in the prior period, the company said in a regulatory filing on the Abu Dhabi Securities Exchange (ADX).
Over the next 12 to 18 months Multiply will look to "build its verticals and grow operating businesses and recurring income".
"We have access to over AED 1.2 billion in cash and over AED 6 billion in financing capacity and are on the lookout for good deals globally," Samia Bouazza, CEO of Multiply, said.
The Abu Dhabi holding company, which has investments ranging from Getty Images to Savage X Fenty, said it generated AED 303 million in dividends from its public market portfolio.
(Reporting by Brinda Darasha; editing by Seban Scaria)
