By: Mahmoud Gamal

Dubai – Mubasher: Amanat Holdings is looking to expand in the UAE, the GCC, particularly Saudi Arabia, and beyond over the coming period, the firm’s CFO Dawod Al Ghoul said.

The UAE-based company will consider all available options to boost its investments in the healthcare and education sectors, Al Ghoul told Mubasher in an exclusive interview.

He also noted that the GCC’s largest healthcare and education investment company plans to grow returns for its shareholders in the near future.

The firm which is listed on the Dubai Financial Market (DFM) last reported a net profit of AED 26.29 million for the first nine months of 2018, compared to AED 42.31 million in the year-ago period.

Amanat Holding incurred a loss of AED 3.41 million during the third quarter of 2018, against AED15.45 million in profits in Q3-17.

Mubasher: Does the company plan to expand its footprint in the GCC, particularly Saudi Arabia and Bahrain?

Al Ghoul: Amanat has invested AED 1.3 billion this year, bringing its total investments to as much as AED 2 billion in leading assets in the UAE, Saudi Arabia, and Bahrain. The company will continue looking for further opportunities in the GCC and beyond to generate attractive, sustainable return for its shareholders.

Mubasher: Will Amanat issue debt instruments in near future?

Al Ghoul: As the firm invested 79% of its capital, it will weigh up all available options to increase investments in the healthcare and education sectors over the next period, in order to increase returns for its shareholders.

Mubasher: Will Amanat continue its cash dividend payment despite its declining profits?

Al Ghoul: The third quarter is temporarily affected by the consolidation of  Middlesex University and the Royal Hospital for Women financial results. This profit decline will not weigh on the company’s annual dividend payment.

Mubasher: Why did the company incur losses by the end of Q3-18?

Al Ghoul: Amanat’s third-quarter loss was attributed to the accounting policies of Middlesex University as these policies affect its revenue during the third quarter of each year but that usually recovers in the following quarter, noting that Middlesex University Dubai is a profitable and flourishing business generating in excess of AED 130 million in revenue and a profit margin of c. 25% a year.