Abu Dhabi, UAE; 26 July 2022: Palms Sports, the global sports management company, world’s largest Jiu-Jitsu training academy, and a subsidiary of International Holding Company (IHC), delivers yet another strong quarterly performance as at Q2/2022 booking AED 47.2 Mn in net profit at a 37% increase on the same period last year.
Thanks to a stable financial market, strong governance practices and robust financial policies, the company managed to boost its profit despite an insignificant decrease in income at 1% YoY. With such a steep hike in profits and strong indications of breaking the AED 750 Mn mark in total contractual values by yearend, Palms Sports’ top management is optimistic the company’s desirability for current and potential investors will only increase, solidifying its market position as the largest sports company on a global scale.