Dubai-listed healthcare and education firm Amanat Holdings posted a significant net profit of 235.3 million dirhams ($64 million) for the first half of 2021, up from 0.6 million dirhams a year earlier. For the rest of the year, the company looks to explore new growth opportunities and “strategic exits”. 

The firm’s total income also jumped nine-fold to 255.6 million dirhams compared to 28.2 million dirhams in the first half of last year. 

In a statement, Amanat said its “impressive” financial results have been largely due to the performance of its healthcare and education assets, which have rebounded from their lows last year. Profitability was also bolstered by the sale of Amanat’s share of Taaleem Holdings last April. 

The firm’s portfolio includes Abu Dhabi University Holding Company, Middlesex University Dubai, International Medical Centre and Royal Hospital for Women and Children, among others. 

“The company’s performance exemplifies our ability to realise value for our shareholders, and the effectiveness of our revamped corporate strategy. This has enabled us to fully capitalise on the post-COVID-19 rebound as we continue to drive long-term growth,” said Amanat’s chairman Hamad Alshamsi. 

“Our priorities for the coming months remain unchanged as we look to drive further growth and profitability and deliver above-market returns for our shareholders,” said Mohamad Hamade, Amanat’s CEO. 

“Whether through new opportunities to further grow our platforms or through strategic exits that help us better align to our platform model, we will continue to focus on building fundamental and sustainable value for shareholders,” Hamade said. 

(Writing by Cleofe Maceda; editing by Seban Scaria) 

Cleofe.maceda@refinitiv.com 

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