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Sunday, December 3, 2023
News72 million dollars of profit for "Multiplay" in the first quarter

72 million dollars of profit for “Multiplay” in the first quarter

The company said in a statement that it recorded group revenue of 269 million dirhams (about $73.25 million) in the first quarter of this year, an increase of 11.6% year-on-year and a profit margin gross by more than 50%. . These figures reflect the solidity of the fundamentals and the continuous growth momentum of all the group’s businesses and sectors.

According to the statement, the value of the group’s general portfolio recorded 33 billion dirhams following investments worth 12.6 billion dirhams, an increase of 166%. Multipleplay Group’s portfolio of listed investments is at the heart of its asset base and has been an important driver of growth.

Multipleplay has a strong cash flow of over MAD 1.2 billion, strong gearing and leverage ratios and access to significant funding in excess of MAD 6 billion. In parallel, several measures are adopted with the subsidiaries, in particular the technological transformation and the promotion of additional acquisitions to support the growth of the core business.

Samia Bouazza, Group CEO and Managing Director, said: “In conjunction with the publication of the Q1 2023 earnings report, we continue to work within the Multipleplay Group through subsidiaries to strengthen our position and strive to stimulate the self-growth of the company’s resources, since this year began with the development of our investments in the media and communication sector. , to enhance the assets at the level of the Emirates in the field of media and external communication.

She added: “We recorded cash flow of 303 million dirhams, which is due to the return obtained by employing our public portfolio during the first quarter of this year, which was a major factor in coping with fluctuations in the market and the state of uncertainty and ambiguity affecting the future of the global economy.

She said: “We will focus over the coming period, which spans 12 to 18 months, on developing our business lines and expanding our operations to deliver stable returns. We will continue also to work to conclude profitable transactions around the world, in particular with liquidity of 1.2 billion dirhams, and a financing capacity of more than 6 billion dirhams.

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Arab Desk
Arab Desk
The Eastern Herald’s Arab Desk validates the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

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