Thursday August 04, 2022
Amanat Holdings net profit rises 7%
Picture used for illustrative purposes only.
Amanat Holdings has announced its financial results for the first six months of this year, reporting an adjusted net profit of Dhs67.4 million, a 7 per cent increase on the Dhs63.1 million reported in the same period of 2021.
On an adjusted basis, excluding the prior yearâ€™s gain on sale and trading results from divested entities, the Company recorded a total income of Dhs96.7 million, an increase of 14 per cent on the Dhs85.1 million recorded in H1 2021.
Commenting on the results, Amanatâ€™s Chairman Hamad Abdulla Alshamsi said, â€œIn 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.
â€œDespite global economic concerns, Amanat remains well positioned to continue to deliver on its strategic growth objectives supported by its geographic and sector focus,â€ he added.
Amanatâ€™s Chief Executive Officer Dr Mohamad Hamade, said, â€œWe have witnessed our portfolio companies continue to demonstrate resilience while strengthening their positioning as market leaders. Following NEMA Holdingâ€™s acquisition of LCT and KIC, Amanat approved the Cambridge Medical and Rehabilitation Centre expansion plan in KSA and UAE. â€œAdditionally, we are studying several potential investment opportunities to further deploy capital and grow our portfolio,â€ he added.