Dubai – Mubasher: The net profits of Amanat Holdings, the GCC’s largest healthcare and education investment company, surged by 39.8% year-on-year (YoY) to AED 60 million when compared to 2018, as shown in the company’s consolidated financial results for 2019.

This increase in net profits resulted from an 8% annual rise in total income to AED 113.3 million and a 16% decline in operating expenses.

Amanat’s income from investments rose by 2.3% YoY to AED 73.5 million in 2019, while total expenses declined by 16% YoY to AED 51.7 million from AED 61.5 million.

Meanwhile, the company’s board recommended a cash dividend distribution of 2.2 fils per share for 2019.

In this regard, Amanat’s chairman, Hamad Abdulla Al Shamsi, said: “Throughout 2019 we remained focused on integrating and aligning our portfolio companies, both operationally and strategically, particularly after having deployed over AED 1.2 billion across four investments in 2018.”

Meanwhile, the CEO of Amanat, Tristan de Boysson, referred: “There have been a series of successful achievements in 2019 most notable of which include the launch of RHWC ahead of schedule in March and achieving by year end 90% progress in staffing its clinical teams and launching its services portfolio.”

Noteworthy to mention, during the first nine months of 2019, the company witnessed net profits attributed to equity holders worth AED 33.434 million from AED 24.286 million in the same period of the earlier year.