737 million dirhams, net profits of Tecom during the first half, with a growth of 22%
Dubai, on August 1 / WAM / The Tikom Group, listed in the Dubai Financial Market, announced strong financial results for the first half of this year, registered 22 percent growth in net profits to reach 737 million dirhams, compared to the same period last year.
Revenue increased by 21 percent to 1.4 billion dirhams, driven by increasing rental rates, occupancy and the growth of revenue from strategic assets.
The profits were recorded before calculating benefits, taxes, destruction and consumption, by 24 percent on an annual basis to 1.1 billion dirhams, and the profit margin reached 80 percent, which reflects the efficiency of the group operations and sustainability of growth.
The cash flows from operational operations increased by 17 percent to 984 million dirhams, supported by improving the quality of revenue and effective management of the business portfolio.
The Board of Directors approved the distribution of phased cash dividends of 400 million dirhams for the first half of this year, according to the policy of distributing the profits approved by the group.
Malik Al -Malik, Chairman of the Board of Directors of the Tikom Group, said that these results reflect the group’s flexibility, and its ability to keep pace with the economic growth witnessed by the UAE, adding that the group continues to enhance its operational efficiency and provide sustainable value to shareholders.
For his part, Abdullah Balhal Al -Hall, CEO of the group, stressed that the financial and operational performance during the first half of the year represents an affirmation of the success of the approved strategy and the growth of the customer base in the six business sectors managed by Tikum in Dubai.
He added that the assets of the group have achieved high occupancy levels, reaching 95 percent in the commercial and industrial sectors, and 99 percent for the land rental portfolio, with the support of strong demand and government programs such as a project of 300 billion, and made in the Emirates, and Dubai Economic Agency.
In terms of operational results, the last period witnessed the opening of Paypal, its regional headquarters in Dubai Internet City, and Pure Ice Cream started the construction of its new factory in Dubai Industrial City of 80 million dirhams, and the Dubai Design District also celebrated the passage of more than a decade on its establishment and launched the first design award of its kind.
The group continued to enhance its commitment to environmental and social practices and governance, as the number of buildings with leadership in energy and environment designs increased to 55, and solar energy projects contributed to the generation of 8 GWh of clean energy.
The representation of women’s cadres also reached 35.4 per cent of the workforce, and the Tecom Group obtained a certificate of consensus with legal controls and standards from the Sharia review house for the period ending in March 2025, which enhances its position as a company that adheres to the highest standards of transparency and financial compatibility.
This performance is an affirmation of the growing position of Dubai as a regional and international business and investment center in the new economy sectors.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
