Dubai’s Amanat Holdings has reported a 43 per cent jump in second-quarter profit as growth across its healthcare and education platforms gave revenue a boost.
Net profit attributable to equity holders for the three-month period to the end of June climbed to Dh49.5 million ($13.47 million), the company said on Wednesday in a filing to the Dubai Financial Market, where its shares are traded.
Revenue for the quarter surged 46 per cent annually to Dh184.2 million.
First-half profit attributable to equity holders surged about 34 per cent, year on year, to Dh89.2 million on the back of a 44 per cent rise in revenue to Dh369.4 million.
“Amanat maintained its growth momentum in the first half of 2023, delivering strong growth in revenue and profitability across both our platforms,” said its chairman Hamad Alshamsi.
“At our healthcare platform, we have completed the merger of our post-acute care businesses and we continue to progress our plans to increase bed capacity from 400 to 1,000 post-acute care beds in three years …”
The company said it also remains focused on expanding its education platform's special needs offering and increasing the number of enrolments.
It is also “actively pursuing K-12 opportunities in the UAE and Saudi Arabia”.
In April, Amanat completed the acquisition of a majority stake in critical care medical company Sukoon International Holding through a merger with Cambridge Medical and Rehabilitation Centre, creating the largest pan-GCC post-acute care platform.
As part of the deal, Sukoon shareholders received 15 per cent of Amanat’s shares in CMRC while Amanat received additional shares in Sukoon.
Amanat is also consolidating its healthcare assets in the Middle East into a single platform, with plans for a potential initial public offering of the new division as part of its growth strategy.
“Looking ahead, we are focused on delivering shareholder value by creating and developing integrated education and healthcare platforms that can be monetised in the near term, including the potential regional IPO of Amanat Healthcare,” Mr Alshamsi said.
The Mena healthcare market is on track to record strong growth in the coming years amid a rise in population that is expected to boost demand for new hospitals, clinics, health research centres and digital health services, HSBC said in a recent report.
Amanat's total assets stood at Dh3.84 billion at the end of the first half, up by about 6 per cent from December end last year.
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UAE currency: the story behind the money in your pockets
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The%20specs
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Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
THE BIO
Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13
Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier
Favourite place to travel to: Any walkable city. I also love nature and wildlife
What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents.
Favorite place to go in the UAE: A quiet beach.
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PRISCILLA
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Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
UAE currency: the story behind the money in your pockets
Global state-owned investor ranking by size
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The killing of 51 people in Christchurch and wounding of more than 40 others shocked the world. Brenton Tarrant, a suspected white supremacist, was accused of the killings. His trial is ongoing and he denies the charges.
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The specs: Macan Turbo
Engine: Dual synchronous electric motors
Power: 639hp
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ASSASSIN'S%20CREED%20MIRAGE
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- Engine: 3.9-litre twin-turbo V8
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Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
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Engine: 6.75-litre twin-turbocharged V12 petrol engine
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Price: From Dh1,350,000
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