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Burjeel Holdings records 47% higher profits in H1-23; dividends unveiled

Burjeel Holdings records 47% higher profits in H1-23; dividends unveiled
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Burjeel
BURJEEL
-2.39% 3.27 -0.08

Abu Dhabi – Mubasher: The net profits attributable to the shareholders of Burjeel Holdings hit AED 213.68 million in the first half (H1) of 2023, an annual jump of 47% from AED 143.30 million.

Revenues hit AED 2.16 billion as of 30 June 2023, higher by 13.90% year-on-year (YoY) than AED 1.89 billion, according to the interim consolidated income statements.

In the first six months (6M) of 2023, the basic and diluted earnings per share (EPS) reached AED 0.04, up YoY from AED 0.03.

Financial Statements for Q2-23

The company’s net profits attributable to the owners enlarged by 51.40% to AED 94.88 million in the second quarter (Q2) of 2023, versus AED 61.13 million in the year-ago period.

Revenues surged by 16.30% to AED 1.07 billion in Q2-23 from AED 926.38 million in Q2-22, while the basic and diluted EPS went up to AED 0.02 from AED 0.01.

John Sunil, CEO of Burjeel Holdings, said: “Burjeel Medical City, our flagship facility, continues to deliver remarkable growth, registering an impressive 34.50% revenue increase driven by substantial growth in inpatient and outpatient footfall.”

“During this period, our expansion plan gained substantial traction, preparing our first centers for opening in Saudi Arabia as part of our partnership with Leejam, a strategic move that reinforces our regional presence,” Sunil added.

He mentioned: “Our future growth will encompass further strategic geographic expansion, additional strategic alliances in the field of transformative and complex medical care, and continuous enhancement of our state-of-the-art infrastructure.”

Dividends

The CEO indicated: “We are also pleased to have confirmed our first interim dividend payment, with an intention to return approximately AED 95 million to shareholders in August 2023.”

During the three-month period that ended on 31 March 2023, the ADX-listed firm generated higher net profits attributable to the owners at AED 118.79 million, compared to AED 82.16 million in Q1-22.