Amanat posts $13m net profit
DUBAI, March 17, 2016
Amanat Holdings, a leading integrated healthcare and education company, has posted a net profit of Dh50.6 million ($13.7 million) for the period since its inception in November 2014 to December 31 last year.
Its income totalled to Dh89.6 million, comprised mainly of Dh57.3 million of gain and dividends from Al Noor Hospitals Group and an Dh32.3 million in interest income, where the majority of which is on Mudarabah and Wakala deposits, said a statement.
Amanat’s share of profit of its associate Sukoon International Holding Company for the period between the date of acquisition until December 31 was Dh8.9 million.
Faisal Bin Juma Belhoul, chairman, said: “We are pleased to report profitable financial results for the year 2015 which is our first year of operation. We thank our shareholders for the support they have extended since the start of our journey.
"Given the economic and regulatory changes shaping our region, we continue to exercise diligence and believe that given our strong cash position, we are well positioned to capitalize on the good opportunities that exist in the healthcare and education sectors.”
Khaldoun Haj Hasan, chief executive officer, said: “Amanat continues to evaluate investment opportunities in the healthcare and education sectors while applying a very disciplined investment philosophy across its three business verticals.
"We look to partner with businesses that have a clear and differentiated business strategy. On the other hand, these businesses can leverage our investment and operational expertise and capital to drive their growth plans and potentially be positioned as market leaders.”
In August, Amanat acquired a 35 per cent equity stake in Sukoon, a closed joint stock company providing extended and specialist healthcare services to patients who are no longer suited for medical care within a traditional hospital setting. - TradeArabia News Service
