24-04-2025
Palms Sports reports Dh276m revenue in Q1 2025
24 Apr 2025 14:29
ABU DHABI (ALETIHAD) Palms Sports, the region's preeminent sports training provider, and a subsidiary of International Holding Company (IHC), reported Dh276 million in total revenue in the first quarter, reflecting a 7% increase from Dh258 million in Q1 Sports on Thursday announced its financial results for the first quarter of 2025, showcasing strong growth and consistent profitability across all key metrics. The growth underscores the company's continued momentum in driving demand for its training programmes, wellness, and competitive event programmes, a statement by the company posted on the Abu Dhabi Securities Exchange(ADX) website company also posted an operating profit of Dh34 million, up from Dh32 million in the same quarter last year. Net profit before tax rose to Dh20 million, up 18% from Dh17 million in Q1 2024. 'Our Q1 performance is a direct result of Palms Sports' strategic direction—investing in innovation, expanding our vertical capabilities, and acquiring key assets that strengthen our competitive advantage,' said Fouad Darwish, CEO and Managing Director of Palms Sports. 'These tactics not only enhance our core operations but also allow us to deliver broader value across education, community development, and elite sports.'
The company's performance is driven by the ongoing expansion of its flagship programmes, along with a focus on scaling its operations and investments alike, reinforcing its prominent position in shaping the local and regional fitness and sports ecosystem, the statement said.
