UAE: Apex Investment turns profitable at $6.26mln in H1-24

PHOTO

Abu Dhabi – Apex Investment Company shifted to net profits amounting to AED 23.01 million in the first half (H1) of 2024, compared to net losses worth AED 198.81 million in H1-23.

Revenues increased to AED 425.23 million in H1-24 from AED 301.84 million a year earlier, according to the income statements.

Basic earnings per share (EPS) hit AED 0.006 in the first six months (6M) of 2024, versus a loss per share of AED 0.056 during the same period in 2023.

Financials for Q2

Apex Investment turned profitable at AED 18.74 million in the second quarter (Q2) of 2024, against net losses valued at AED 8.63 million in Q2-23. Meanwhile, the basic EPS hit 0.005 when compared to a loss per share of AED 0.002.

The revenues climbed to AED 229.91 million in April-June 2024 from AED 154.10 million a year earlier.

As of 31 March 2024, the company registered net profits worth AED 4.27 million, against net losses after tax valued at AED 190.18 million in Q1-23.