|14 August, 2019

Amanat Holdings’ H1 profits grow 26%

The company’s total income jumped by 28%

Dubai – Mubasher: Amanat Holdings reported a 26% year-on-year profit increase during the first half of 2019, recording AED 35.1 million.

The company’s total income jumped by 28% to AED 63.8 million during the first six months of 2019, compared to the same period of the previous year, reflecting Amanat’s continuous growing performance, according to a filing to the Dubai Financial Market (DFM) on Wednesday.

On a yearly basis, income from associates and subsidiaries grew by 121% to AED 45.5 million during the six-month period between January and June.

Amanat’s excess cash was efficiently utilized during H1-19, reaching AED 537 million as of 30 June and delivering a net yield of 3.34% in H1-19, compared to 3.29% in the same period last year.

“Amanat’s solid performance in H1 2019 is a testament to our investment strategy which has proven to be effective and sustainable. Amanat is strategically well placed to continue delivering solid results as we seek to explore investment opportunities in the GCC and the MENA region,” Hamad Abdulla Al Shamsi, Chairman of Amanat, said.

Tristan de Boysson, CEO of Amanat, noted that the company will continue to evaluate additional investments opportunities through direct and add-on acquisitions, in addition to examining substantial opportunities for Amanat in its two chosen markets of healthcare and education.

Source: Mubasher

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