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Abu Dhabi-based E7 Group has announced a net profit before tax growth of 42% year-on-year in Q1 2024. The company, which provides commercial printing, security printing and solutions, sustainable packaging, and distribution services, attributes the strong trading period to continued economic growth in the UAE and increased demand for its expanding product suite. E7 Group's revenue remained stable year-on-year, with a slight 1% decrease to AED 126.0m due to a revised delivery schedule for a key contract. However, it expects EBITDA to improve throughout the year due to the phasing of delivery plans. The company also unveiled a new growth strategy aimed at sustainable profit growth, improved customer service, and diversification into high-value adjacent verticals.
The text is a review report and condensed consolidated interim financial information for E7 GROUP P.J.S.C. This report covers the financial performance of the company for the three-month period ending on 31 March 2024.