Economy Country October 29, 2024

Phoenix Group Profit Increases by 17.5% in 2024

Phoenix Group's net profits in the first nine months of 2024 rose by 17.5% to $169.8 million. This positive growth reflects the company's robust financial performance amidst market challenges.


Phoenix Group Profit Increases by 17.5% in 2024

For the first nine months of the current financial year, the net profit of Phoenix Group increased by 17.5% to 169.8 million dollars (623.6 million dirhams). According to the company's chairman, this positive result is attributed to improved operational efficiency and increased sales revenue. He also noted that the company continues to pursue a strategy of expansion and diversification of its businesses, which contributes to sustainable growth and improved metrics. During this period, the overall sales volume grew by 12% to 2.1 billion dollars, indicating the company's successful performance in the market.