https://arab.news/mw96n
- The Dubai-listed company saw a 2,680 percent increase in net profit on strong health unit performance
RIYADH: Healthcare and education investment company Amanat has reported a twenty-eightfold increase in net profit to 280.8 million dirhams ($76.4 million) in 2021.
The Dubai-listed company saw a 2,680 percent increase in net profit on strong health unit performance.
A key driver of its growth was its health care portfolio with its most recent acquisition of Cambridge Medical and Rehabilitation Center, according to a press release.
“I think we are at the stage to prioritize capital deployment,” Amanat CEO Mohamed Hamade said in an interview with Bloomberg, adding: “We are looking at Saudi, UAE, and Egypt as markets.”
The growth was also attributed to the sale of minority stakes in Taaleem Holdings and International Medical Center KSA, which resulted in a profit of 202.9 million dirhams.
Due to this record performance, Amanat has recommended the highest dividend payout to-date of 150 million dirhams.