The CEO of the UAE-based Alpha Group said the group aims to double its profits next year to 10 billion dirhams (2.72 billion dollars).
Hamad Al-Amiri, CEO of the company, told “Reuters” in an interview that the company is planning further acquisitions and expansions internationally. He’s exploring opportunities, in particular in Egypt and Saudi Arabia.
Claimed that Alpha Abu Dhabi, which has 25 branches distributed in Top 5 Sectors: Industries, Healthcare, Capital, Construction and Hospitality, is looking at potential investments in real estate, healthcare, petrochemicals, energy and green energy.
On Tuesday, the company said the company made 5.2 billion dirhams in profit questyear and its board of directors had not proposed dividends.
“The concept of ‘non-distribution of profits and continuous growth’ is new in the market here and in the region,” said Al-Amiri.
“Most investors will take the profits and reinvest them, so why not invest them, because they believe in our vision and we keep growing?”
Al Ameri said that Alpha Abu Dhabi does not need to take at the moment in loan, but it is in negotiations with regional and international banks for potential loans, depending on potential agreements.
He added that the group is considering requesting a credit rating from rating agencies if it decides to issue bonds. in future.
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