Dubai: Amanat Holdings, a Dubai-listed health care and education investment company, on Thursday reported Dh11.9 million in net profit attributable to owners for the second quarter of 2017, marking a 17 per cent decline year-on-year.
The figure puts net profit for the first half of 2017 at Dh25 million, up 4.8 per cent over the same period in 2016.
In a statement, Amanat said its total income in the first half of this year reached Dh48.3 million, a 20 per cent jump year-on-year. The company said the rise in income was supported by a 137 per cent increase in the share of income from associates that stood at Dh18.4 million in the first half.
Growth initiatives
The increased income from health care associates was driven by contributions from International Medical Centre, which was acquired by Amanat in December 2016. Since the acquisition, Amanat has worked with the Centre’s management on growth initiatives in Jeddah to increase bed capacity, roll out primary care, and other productivity initiatives.
Khaldoun Hasan, Amanat’s chief executive officer, said in a statement the company is looking to expand its portfolio “by investing in other differentiated businesses that have proven leaderships across key GCC markets”.
Amanat’s share prices on the Dubai bourse ended flat on Thursday at Dh1.11.
