ABU DHABI - Response Plus Holding (RPM), a subsidiary of ADX-listed Alpha Dhabi, has reported a strong performance in the half-year results ending 30th June, announcing a net profit of AED20.6 million in the first half of 2022, compared to AED12.5 million during the same period in 2021.
RPM achieved AED162.6 million in revenue in H1 2022, compared to AED70.1 million achieved during the same period of last year. Total assets at the end of June 2022 stood at AED323.7 million.
The Group is focused on expanding its footprints in KSA, India and Egypt, towards which significant investments and advancements have been made in the current year. The Group is in the process of setting up an occupational health centre in Damman (KSA), establishing a training centre in Riyadh, and imminently commencing medical training, global patient transfer, and operation of remote site services in India, for which a new subsidiary was set up in Q2 2022.
In addition, RPM continues to expand its services in core UAE markets, with new contract wins for the provision of emergency medical services for Presidential flights, outsourcing and management of SEHA Ambulance, and supply of medical manpower to SEHA, in addition to new contracts for remote site clinics and events.
In view of the strong performance and cash generation, RPM Board of Directors, during the last board meeting, recommended that the Company evaluate an option to distribute semi-annual / interim dividends. To this end, they will amend the article of association and table a proposal in the General Assembly, which remains subject to shareholder and regulatory approvals.
CEO of Response Plus Holding Tom Louis said, "The Company has sustained its financial growth trajectory, which is well supported by strong Q2 results. While external socioeconomic factors continue to impact the market dynamics, we remain committed to support our clients to navigate these challenges, which was reflected in our Q2 performance. We remain excited about our growth prospects, with strong foundations laid down in the new geographies of KSA, India, and Egypt over the past 12 months, allowing us to scale up and achieve continued sustainable revenue and profit growth in the years to come."