Amanat announces record net profit of Dh280.8 million for 2021

Amanat Holdings on Tuesday announced record financial results for the year ended December 31, 2021, with a total income of Dh367 million, a significant five-fold increase on the Dh70.6 million recorded in the corresponding period of 2020.

In a statement, the GCC’s leading healthcare and education investment company posted strong total income growth translated through to its bottom-line, with the company reporting a record net profit of Dh280.8 million, a twenty-eight fold increase from the Dh10.1 million reported in financial year of 2020.

As a reflection of the record performance, Amanat has recommended the highest dividend payout to date of Dh150 million, for which the board of directors will be seeking shareholders’ approval in the company’s upcoming general assembly meeting.

Amanat’s chairman, Hamad Abdulla Alshamsi, said 2021 was a transformative year which saw us deliver impressive growth, record profitability, and solid progress on our longer-term value creation strategy.

"The year’s results set a strong foundation for the future of Amanat, demonstrating the underlying strength of our chosen industries and investments, and the effectiveness of our corporate strategy,” he said.

Chief executive officer of Amanat Dr Mohamad Hamade, said: “We enter 2022 with continued confidence stemming from the record results delivered in 2021 and the success of our new corporate strategy. Having executed four transactions amounting to nearly Dh1.7 billion, we have set the stage for our value creation strategy."

“We concluded the year with a strong portfolio of assets, either fully owned or with influential stakes. As we did in 2021, we kick off the new year with a new list of targets to achieve and a clear action plan to deliver on them,” he added.

— business@khaleejtimes.com