DUBAI, Amanat Holdings PJSC (Amanat), the GCC's largest healthcare and education investment company, today announced its annual financial results for 2018.
Amanat reported a net profit of AED 42.9 million in FY 2018 in line with 2017 and 39% higher excluding costs relating to acquisitions and non-recurring one-offs . Total net revenue of AED 104.4 million was up 21% compared with AED 86.3 million in 2017. These results reflect a significant increase in share of profit from associates as well as the initial benefits from the acquisitions completed during the year.
Amanat deployed AED 1.2 billion over the course of the year to reach AED 2 billion of deployment since inception, marking 79% of the AED 2.5 billion paid up capital. Four high-quality assets have been acquired in healthcare (Royal Hospital for Women in Bahrain) and education (Abu Dhabi University Holding Company and Middlesex University Dubai) and the real estate of North London Collegiate School Dubai.
Commenting on the results, Hamad Abdulla Al Shamsi, Chairman of Amanat, said: "2018 has been a year of active deployment for Amanat. The Company delivered AED 1.2 billion of acquisitions in four quality assets, an ambitious array of deals which has seen the Company scale considerably. Having achieved much in 2018, we have the foundations in place for continued growth in 2019 and beyond. This year, we will build on these foundations, so that Amanat is best placed to take advantage of the pipeline of opportunities. We therefore remain confident of progress towards Amanat's aspiration to be the investment partner of choice in healthcare and education, and of creating real and lasting value for its shareholders and society as a whole."
Source: Emirates News Agency