ALEC Holdings PJSC reported a 101% year-on-year increase in net profit to AED 230.5 million for the first quarter ended 31 March 2026, compared to AED 114.5 million in the same period last year.
Total contract revenue surged to AED 4.61 billion, an 87% increase from AED 2.47 billion YoY, driven primarily by construction activities and higher project execution volumes.
The Board of Directors approved a cash dividend of AED 250 million (AED 0.05 per share) on 24 March 2026, following the Group’s initial public offering and listing on the Dubai Financial Market in October 2025.
Operating results were impacted by an increased effective tax rate of 12.9% and the recognition of AED 3.1 million in Pillar Two top-up taxes, alongside a 25% increase in administrative expenses to AED 121.5 million.
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