Amanat Holdings reports 26 percent net profit growth for H1 2019

Amanat Holdings is a GCC healthcare and education focused investment company. (File photo: Shutterstock)

Amanat Holdings, a GCC healthcare and education focused investment company, announced its net profit for H1 2019 was 35.1 million UAE dirhams ($9.56 million), a 26 percent increase compared to the same period in 2018.

In a statement, Amanat said that its income from associates and subsidiaries recorded a 121 percent increase year-on-year to reach 54.5 million UAE dirhams. This accounted for 85 percent of the company’s total revenue for H1 2019, compared to 49 percent in H1 2018.

The Chairman of Amanat, Hamad Abdulla al-Shamsi said, “We are on the right track to achieve Amanat’s aspirations to become a global investment partner of choice in healthcare and education sectors, and to unlock the full potential of our investments to create long-term value.”

“As we move in the second half of the year, we remain focused on working closely with the management of our portfolio companies to support their growth and profitability. We also continue to evaluate additional investments opportunities through direct and add-on acquisitions as we see substantial opportunities for Amanat in its two chosen markets of healthcare and education,” added CEO Tristan de Boysson.

The company also announced that it is now recognized as a fully sharia-compliant company as per applicable DFM rules and requirements.

Last Update: Wednesday, 20 May 2020 KSA 09:54 - GMT 06:54