Dubai – Mubasher: Amanat Holdings reported AED 235.3 million in net profits attributable to the equity holders in the first half (H1) of 2021, up by 40,054% year-on-year (YoY) from AED 586,000 in H1-20.

The GCC’s largest healthcare and education investment company generated a total income of AED 255.6 million in the January-June period, a nine-fold surge from the AED 28.2 million in the corresponding period a year earlier, according to a statement on Sunday. 

The profit hike was ascribed to the "strong results reported by both Amanat’s healthcare and education platforms" as well as "the AED 160 million gain on sale of Amanat's share of Taaleem Holdings in April 2021, along with the robust contributions made from Amanat's new healthcare investment, Cambridge Medical and Rehabilitation Center (CMRC)."

Total expenses retreated by 26.8% to AED 20.2 million in H1-21, while revenues from contracts with customers increased by 110% to AED 195.63 million. 

Amanat’s income from educational investment hiked by 288% to AED 232.8 million and healthcare investments posted an income of AED 19.2 million, against a loss of AED 38.7 million in H1-20. 

During the first quarter (Q1) of 2021, Amanat registered net profits of AED 31.514 million, up from AED 5.736 million in the same quarter of 2020.