Phoenix Group PLC Posts Stellar 2024 First Quarter Results with Surge in Assets and Profits
2024年5月17日 - 9:00PM
Phoenix Group PLC (ADX:PHX), the leading provider of web3, crypto,
and blockchain technologies in the region, has announced impressive
financial results for the first quarter of 2024. Building on a
successful inaugural year as a publicly traded entity, the company
has showcased the robustness of its business model and its
steadfast commitment to enhancing stakeholder value. In the
first year as a publicly listed company, Phoenix Group is proud to
announce a Q1 net income of USD 66.2 million, a growth of 166%
year-on-year. Key financial highlights:
- Total assets surged by 237%
year-over-year, soaring to $879.3 million from $261 million.
- The quarter-over-quarter growth
in total assets stands at 5%.
- Revenue experienced an 18%
quarter-on-quarter increase, reaching $68.9 million.
- Gross profit saw a robust 82.8%
quarter-on-quarter rise, amounting to $23.28 million.
- Total comprehensive income
expanded by 312% year-on-year to $102.28 million and by 33.7%
quarter-on-quarter.
- The earnings per share for Q1
2024 amounted to $0.011.
While Phoenix Group remains focused on becoming a leading force
in crypto mining, it is also strategically positioning itself to
capitalize on investment opportunities that complement its core
business and deliver substantial value to its stakeholders.
“We are immensely proud of the remarkable strides we have made
in the first quarter of 2024,” stated Seyed Mohammad
Alizadehfard, Co-Founder and Group CEO of Phoenix Group. “Our
robust financial results underscore the resilience and
effectiveness of our business model, as well as our dedication to
delivering exceptional value to our stakeholders. As we move
forward, our commitment to innovation, strategic investments, and
sustainability remains strong. We are confident that these focal
points will not only help us achieve our long-term objectives but
will also further cement our standing as a pivotal player in the
web3 domain."
Echoing this sentiment Mr. Munaf Ali, Co-founder & Group
Managing Director added “Sustainability is a core principle
that underpins our operations. We are diligently focusing on
optimized energy solutions and exploring new technologies to
minimize the environmental footprint of our crypto mining
activities. We are convinced that responsible business practices
are critical for long-term success, and we remain dedicated to
advancing to a more sustainable future for the industry." Phoenix
Group is confident that its proactive approach to investments will
drive sustainable growth and create enduring value for its
stakeholders. About Phoenix Group:Phoenix Group PLC, a
multi-billion-dollar tech powerhouse headquartered in the UAE,
leads the forefront of the blockchain, crypto, and tech revolution,
driving innovation to new heights. In 2017, Bijan Alizadeh Fard and
Munaf Ali laid the foundation for what would evolve into the
Phoenix Group – a conglomerate comprising several thriving
businesses. Beyond the web3 sphere, they offer comprehensive
solutions, boast a 765MW mining operation, and fuel growth through
strategic partnerships and innovation. Phoenix Group operates
nine mining facilities in the US, Canada, CIS, and the UAE, with
each unique company operating in one of four distinct verticals:
Mining, Hosting, Trading, and Investments.
Phoenix Group PLC is the region's first crypto and blockchain
conglomerate listed on the Abu Dhabi Securities Exchange. It also
runs the largest mining farm in the MENA region.
Social presence:
X (Formal Twitter): https://twitter.com/phoenixgroupuae
LinkedIn: https://www.linkedin.com/company/phoenixgroupuae/
Website: https://phoenixgroupuae.com/press/
Phoenix Group PLC media team contact:
Email: ir@phoenixgroupuae.com