General Holding Corporation posts 61 per cent profit hike

10 May 2010

Abu Dhabi investment vehicle 2009 profits rise to $307m from $191m in 2008

General Holding Corporation (GHC), the industrial investment arm of the Abu Dhabi government has announced net profits of AED1.13bn (about $307m) a 61 per cent increase on the AED703m the company made in 2008.   

Total assets at GHC increased by 16 per cent to AED18.4bn last year and revenues increased to AED8.6bn, which represents a fourfold increase since 2004.

GHC has a broad portfolio of interests including Emirates Steel Industries (ESI), Abu Dhabi Basic Industries Corporation (Adbic) and Emirates Foodstuff and Mineral Water Company (Agthia).

The company employs over 17,000 UAE nationals and expatriates.

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