Amanat turns to losses in 9 months

The company has generated revenues in the January-September period

  
Electronic boards showing stock information are pictured at the stock market, in Dubai, United Arab Emirates, November 5, 2020.

Electronic boards showing stock information are pictured at the stock market, in Dubai, United Arab Emirates, November 5, 2020.

REUTERS/Abdel Hadi Ramahi

Dubai – Mubasher: The unaudited consolidated financials of Amanat Holdings recorded net losses attributable to the equity holders of AED 11.9 million in the first nine months of 2020, against net profits of AED 33.4 million in the year-ago period.

The company has generated revenues of AED 99.23 million in the January-September period of 2020, down from AED 100.02 million in the corresponding period of 2019.

The basic and diluted losses per share settled at AED 0.0048 in the first nine months of 2020, versus earnings per share (EPS) of AED 0.0130 in the same period of the earlier year.

Commenting on the company's performance, Amanat’s Chairman, Hamad Alshamsi, said: "We are witnessing strong recovery beginning in the third quarter with the easing of restrictions."

Meanwhile, the CEO of Amanat, Mohamad Hamade, remarked: "Our healthcare platform has been witnessing a marked recovery beginning in the third quarter of the year as COVID-19 measures were eased."

It is noteworthy to mention that in the first half (H2) of 2020, the company's net profits plunged by 98% to AED 586,000 from AED 35.1 million in the corresponding period of 2019.

Source: Mubasher

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