Amanat Holdings reported a 46 per cent rise in first-half profit to Dh153.3 million, supported by higher patient volumes, rising student enrolments and continued expansion across its healthcare and education businesses.
Revenue for the six months ended June 30 increased 24 per cent to Dh582.5 million, while EBITDA rise 30 per cent to Dh226.4 million. Adjusted profit increased 72 per cent to Dh153.4 million.
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The company also declared an interim cash dividend of Dh75 million, equivalent to 3 fils per share.
Cambridge Health Group reported a 28 per cent increase in revenue to Dh235.3 million, while EBITDA rose 58 per cent to Dh62.4 million. Profit increased more than eight-fold to Dh24.8 million.
The healthcare business ended the period with 666 licensed beds, up 18 per cent, while total bed capacity reached 715.
Amanat is progressing a 70-bed expansion at Cambridge Hospital Jeddah and developing a new 155-bed integrated post-acute healthcare facility in Riyadh. Regulatory approval was also received after the period to increase licensed capacity at Cambridge Hospital Khobar to 150 beds.
The group said growing patient volumes and improving operating leverage supported the healthcare performance.
Education profit rises 29%
Almasar Education revenue increased 22 per cent to Dh347.2 million, while EBITDA rose 33 per cent to Dh179.9 million and profit grew 29 per cent to Dh130.2 million.
The business served about 28,900 students and beneficiaries, up 21 per cent, while enrolments at Middlesex University Dubai reached around 7,200.
Almasar is also developing around 15 specialist education facilities and is progressing plans to enter the K-12 education sector.
Dh1.5 billion growth plan
Amanat plans to deploy around Dh1.5 billion over the next three years through organic expansion, greenfield developments and selective acquisitions.
The company is targeting a return on equity of at least 10 per cent and a minimum annual dividend of 7 fils per share under its new three-year dividend policy.
More than Dh500 million has already been deployed or committed towards acquisitions, capacity expansion, greenfield projects and new service lines.
John Ireland, Chief Executive Officer of Amanat Holdings, said growth across the first half was driven by higher patient volumes, increased student enrolments and investment in expanding capacity across both businesses.
Source: Khaleej Times