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Hospitality group Five Holdings saw its net income increase 35% y-o-y to AED 314 mn in 2023, according to its earnings release. The hospitality group’s revenues rose 37% y-o-y to AED 1.7 bn during the year. On a pro forma basis, reflecting its acquisition of Universo Pacha SA, the company saw revenues of AED 2.1 bn, marking a 69% y-o-y increase, while net income reached AED 390 mn, up 68% y-o-y.
Dubai-based UAE сonsumers’ co-operative Union Coop’s net income stood at AED 297 mn in 2023, down 19.7% y-o-y, according to the company’s financial results (pdf). The company’s revenues also fell 1.4% to AED 1.7 bn in 2023.
