Dubai – Mubasher: The unaudited interim consolidated financials of Amanat Holdings has registered net profits attributable to the equity holders of AED 273.8 million in the first nine months of 2021, against net losses of AED 11.9 million in the year-ago period.

Turning to profitability is attributed to AED 203 million gain on disposal from successful divestments of minority stakes in Taaleem and IMC.

The company's revenues jumped to AED 284.995 million in the January-September period of 2021, compared to AED 99.229 million in the same period of 2020.

The basic and diluted earnings per share (EPS) settled at AED 0.1095 in the first nine months of 2021, versus AED 0.0048 losses per share in the corresponding period of the earlier year.

Amanat’s Chairman, Hamad Alshamsi, said: "During the third quarter, our portfolio was further optimized with the sale of our stake in IMC marking our second profitable exit from a minority investment this year and generating significant returns for shareholders and proceeds of nearly AED 800 million."

Meanwhile, the CEO of Amanat, Mohamad Hamade, commented: "Looking ahead, we will continue to work to deliver above-market returns for our shareholders through a carefully executed strategy centered on extracting maximum value from existing assets and executing high-potential acquisitions that complement our platforms."

It is noteworthy to mention that during the first half (H1) of 2021, the company reported AED 235.3 million in net profits attributable to the equity holders, up by 40,054% year-on-year (YoY) from AED 586,000 in H1-20.