Amanat Holdings posts $6.8m net profit for H1
Originally published in Trade Arabia (link below)
Amanat Holdings, a top healthcare and education investment company, recorded a net profit of Dh25 million ($6.8 million) for the first half (H1) of 2017, a 4.8 per cent increase compared to the same period in 2016.
Total Income grew to Dh48.3 million, a 20.1 per cent increase compared to the same period in 2016.The strong H1 results were supported by 137.5 per cent increase in the share of income from associates, which stood at Dh18.4million for the period ending 30 June 2017, compared to Dh7.7 million for the same period last year. Interest income also reached Dh28.7 million, driven by higher yield.
Increased income from Healthcare associates to Dh12.2 million was driven by contributions from International Medical Center which registeredDh13.0million for H1 2017.
Income from the education associate reached Dh6.2 million in H1 2017 compared to Dh0.61 million in H1 2016 primarily since Taaleem Holding was acquired in April 2016.