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Profit spikes at Asda billionaire’s property empire
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News Archives - City AM
Profit spikes at Asda billionaire’s property empireMohsin and Zuber Issa were shareholders in Asda together until 2024.
Profit at the property empire co-founded by a billionaire backer of supermarket giant Asda spiked to a new record in 2024, it has been revealed.
Monte Blackburn was set up by brothers Mohsin and Zuber Issa in 2016 and has a number of property interests across the North West of England.
It added that the increase in its turnover reflected growth in rental income from its commercial property holdings.
It also achieved a profit of £28m from property disposals which helped it achieve a record operating profit of £42.5m, up from £12.3m.