IHC profit rises 87% to AED 32.5 billion in first nine months

Key Facts

International Holding Company (IHC) reported an 87% year-on-year increase in after-tax profit from continuing operations to AED 32.5 billion for the nine months ended September 30, 2026, according to results reported by Gulf Business. Revenue for the same period rose 33.2% to AED 100.5 billion, reflecting activity growth across the company’s sectors. On a year-to-date basis, profit growth outpaced revenue growth by a clear margin. But the third quarter alone took a different course, with net profit falling about 30% year on year to AED 3.25 billion. In contrast, quarterly revenue rose about 31% to AED 35.6 billion, according to The National.

A comparison of the quarter with the January-to-September period shows diverging trends in profitability and revenue: after-tax profit from continuing operations increased over the nine months, while third-quarter net profit fell compared with the same period a year earlier. Investment income rose about 215% to AED 24.2 billion over the nine-month period, according to The National. The item stands out among the figures published for the period, alongside operating revenue growth. The increase in quarterly revenue alone does not mean net profit moved in the same direction; the two figures showed opposite year-on-year trends in the three months. The nine-month and third-quarter figures measure different reporting periods.

Energy and mining was the company’s fastest-growing sector, with revenue rising 295.1% to AED 19.3 billion in the first nine months of 2026, according to Gulf Business. Real estate and construction revenue also rose 12.8% to AED 33.3 billion, while marine and dredging revenue increased 3.7% to AED 22.4 billion. The figures show different growth rates across activities, from a surge in energy and mining to a modest increase in marine and dredging. The National reported that 7 of the company’s 8 sectors recorded double-digit revenue growth. This breadth of revenue growth puts the performance across sectors alongside the decline in third-quarter net profit.

The company’s assets stood at AED 484.5 billion at the end of September 2026, up 13.4% year on year, according to The National. The figure provides context on the balance-sheet size at the end of the period covered by the results, alongside the reported nine-month growth in revenue and profit. Net profit attributable to owners also rose 109% year on year to about AED 21.2 billion in the nine months ended September 30, the same newspaper reported. This measure differs from the AED 32.5 billion after-tax profit from continuing operations: the first figure is net profit attributable to owners, while the second relates to continuing operations. The results therefore present more than one profitability measure, each with its own accounting scope, for the same period.

Commenting on the results, Chief Executive Syed Shueb said the company continues to focus on “maintaining financial discipline and deploying capital selectively.” The statement links management’s approach to capital allocation with one of the priorities the company cited when publishing the period’s results. No further details were available on specific investment decisions or future financial targets. IHC shares ended Thursday’s session, November 5, up about 2% at AED 329.20, according to The National. That closing price is from the day before the news date, so it is prior trading context rather than a measure of the share’s movement in the November 6 session.