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Amanat Holdings reports 7% growth in first-half net profit
Despite global economic concerns, Amanat remains well positioned to continue to deliver on its strategic growth objectives supported by its geographic and sector focus: Amanat’s chairman Hamad Abdulla Alshamsi
In first half of 2022, Amanat’s healthcare platform continued to record strong year-on-year growth delivering an income of Dh27.3 million. — File photo
Amanat Holdings has announced its financial results for the first six months of this year, reporting an adjusted net profit of Dh67.4 million, a seven per cent increase on the Dh63.1 million reported in the same period of 2021.
On an adjusted basis, excluding the prior year’s gain on sale and trading results from divested entities, the company recorded a total income of Dh96.7 million, an increase of 14 per cent on the Dh85.1 million recorded in first half of 2021.
“In the first half of 2022, we have seen steady growth across our portfolio companies which is reflected in our bottom line. With expansions underway across CMRC, MDX, NEMA, and Sukoon, we are excited for the phase ahead where we see Amanat capitalising on further growth opportunities in addition to deploying capital into assets that complement our existing platforms," Amanat’s chairman Hamad Abdulla Alshamsi said.
“Despite global economic concerns, Amanat remains well positioned to continue to deliver on its strategic growth objectives supported by its geographic and sector focus,” he added.
Amanat’s chief executive officer Dr Mohamad Hamade, said: “We have witnessed our portfolio companies continue to demonstrate resilience while strengthening their positioning as market leaders. Following NEMA Holding’s acquisition of LCT and KIC, Amanat approved the Cambridge Medical and Rehabilitation Centre expansion plan in KSA and UAE.
“Additionally, we are studying several potential investment opportunities to further deploy capital and grow our portfolio,” he added.
In first half of 2022, Amanat’s healthcare platform continued to record strong year-on-year growth delivering an income of Dh27.3 million compared with Dh16 million in corresponding period last year, an increase of 71 per cent year-on-year basis.
Middlesex University Dubai reported a 13 per cent year-on-year increase in income to reach Dh35 million compared with Dh30.9 million in 2021.
NEMA Holding, formerly Abu Dhabi University Holding Company, continued to deliver on its strategic growth plan acquiring 100 per cent of Liwa College of Technology in H12022, following the acquisition of the remaining 49 per cent stake in Khawarizmi International College. — Wam
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