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Strong revenues by Senaat drive first-half profit up by 22%
- United Arab Emirates: Saturday, October 20 - 2012 at 05:59
General Holding Corp (GHC) has announced its net profit in the first half of 2012 rose 22% to Dhs942m on stronger revenues, Khaleej Times has reported. The company, which also got a new corporate identity 'Senaat,' said revenue for the first half ending June 30 climbed 12% to Dhs6.4bn, compared with the Dhs5.7bn recorded for the same period in 2011. Total assets under management also jumped 7% to Dhs25.4bn, compared with its total value by the end of 2011. Senaat is an industrial arm of the Abu Dhabi government with diversified portfolio ranging from food processing and distribution to petroleum construction and steel and cable making to manufacturing of construction materials.
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