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14 08 2019
Q2 2019: AED 35.1 million net profit, total business turnover up 28% to AED 63.8 million
Income of affiliates and subsidiaries increased 121% year-over-year to 54.5 million AED in 2Q2019, and its share in total revenue increased to 85%
Amanat has strong potential to continue to grow and increase its investments in key markets in the region, directly or through its portfolio of subsidiaries and affiliates.
Amanat completes transformation into Shariah-compliant company compliant with Dubai financial market standards
Dubai, UAE – Amanat Holding PJSC (Amanat), the largest investment company in the health and education sectors in the GCC countries, today announced its financial results for the second quarter of this year ending June 30, 2019.
Amanat recorded a net profit of AED 35.1 million in the second quarter of 2019, up 26% over the same period in 2018. Total revenues of Ammanate amounted to AED 63.8 million, or an increase of 28% compared to the same period in 2018.
Revenues of subsidiaries and affiliates at Amanat also increased significantly, registering a 121% increase over the previous year, to 54.5 million AED. Affiliate and subsidiary revenues in the Company's total revenues for the second quarter of 2019 increased to 85% (compared to 49% for the same period in 2018), after calculating revenues from rental income attributable to land and buildings (assets).
North London Collegiate in Dubai, which was fully acquired by Amanat in June 2018. This positive contribution to revenues from investments in specialized real estate infrastructure demonstrates the success with which Amanat has diversified its assets and provided additional and consistent sources of revenue, in accordance with the company's commitment. By creating value in his businesses and achieving sustainable value for his shareholders.
By the end of the second quarter of 2019, Amanat 's cash surplus had risen to 537 million from AED. Thanks to the efficient and effective use of this cash surplus, the return on surplus stood at 3.34% in 2Q2019, compared with 3.29% for the same period in 2018.
Commenting on the results, Mr. Hamad Abdulla Al Shamsi, President of Amanat, said: "The strength of Amanat's operational and financial performance clearly demonstrates the validity of our investment strategy, which has proven effective and efficient. sustainable. Our goal is to create value in our current portfolio of leading companies by working closely with our partners to help them grow and improve profitability. It is true to realize Amanat's aspirations to be the ideal choice in the health and education sectors, and unleash the full potential of our investments to persevere in long-term value creation and returns. sustainable.
"Today we are in a stronger position to generate more revenue and build a strong foundation for sustainable growth as the first half of this year continues to grow and increase our earnings. to evaluate opportunities, "said Tristan de Boioson, CEO of Amanat. To increase our investments in the health and education sectors in the GCC and MENA countries, directly and through our portfolio of subsidiaries and affiliates, we reaffirm our commitment to our active investment strategy and our collaborative approach.
This program aims to improve performance and support expansion projects of our main health and education platforms. "
Amanat's total investments since inception through the end of the second quarter of 2019 amounted to AED 2 billion, or 79% of its total AED 2.5 billion capital. Amanat has completed its transformation into a Sharia-compliant company, in accordance with Dubai Financial Market (DFM) standards, with a Shariah-compliant business figure.
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About Amanat Holding Company:
Amanat Holding is the largest integrated company operating in the health and education sectors in the region with a capital of 2.5 billion AED. The company, listed on the Dubai Financial Market (DFM), creates, acquires, develops, manages and operates companies in the health and education sectors in the GCC countries and beyond.
For more information, please visit www.amanat.com
For more information, please contact:
طارق زهنان Free Membership
Echoes of BCW
Dubai, United Arab Emirates
Phone: 97144507600
Email: [email protected]
© Press Release 2019
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