Dubai: Abu Dhabi investment firm Multiply Group’s recorded a net profit (excluding fair value gains/loss) of Dh266 million for the first three months which is 241 per cent higher from a year ago. In all, the group – which has interests in energy, mobility services, and media – generated Dh303 billion in dividend from its public market portfolio.

If fair value numbers are included, it would see a fair value loss of Dh265 million during the quarter. The Multiply Group in a statement said: “It is imperative to note these fair value changes are largely unrealised, and the short-term movements do not impact the Group’s long-term view of these assets.

“From a total invested amount of Dh12.6 billion, the Group’s current public market portfolio stands at over Dh33 billion, a 166 per cent appreciation. Multiply Group’s investment portfolio is a key part of its asset base, and it has been an important growth driver.”

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The company – one of the big performers on ADX – will continue to target ‘value accretive’ investment chances. The current cash flow position stands at just over Dh1.2 billion, with ‘very healthy debt-to-equity and debt-to-assets parameters’.

It has access to over Dh6 billion in financing capacity.

“In parallel, across operating businesses several measures including tech infusion, bolt-on acquisitions are being lined-up to enhance organic growth,” said the statement. “Multiply Group is well-positioned and focused on generating a more robust and sustainable EPS growth.”