Dubai – Mubasher: The net profits of Amanat Holdings dropped by 8% to AED 89.11 million in the first half (H1) of 2024 from AED 96.44 million in H1-23.

The revenues stood at AED 433.39 million in H1-24, up 17% year-on-year (YoY) from AED 369.40 million, according to the unaudited financial results.

Basic and diluted earnings per share (EPS) went down YoY to AED 0.033 as of 30 June 2024 from AED 0.036.

Total assets hit AED 3.79 billion in H1-24, lower than AED 3.84 billion as of 31 December 2023.

Income Results for Q2

In the second quarter (Q2) of 2024, the net profits increased to AED 40.82 million from AED 52.07 million in Q2-23, while the revenues climbed to AED 209.75 million from AED 184.22 million.

The basic and diluted EPS declined to EGP 0.016 in April-June 2024 from EGP 0.020 a year earlier.

The Chairman of Amanat, Shamsheer Vayalil, said: “Amanat made strong progress on its value creation strategy in H1-24, with continued growth at the Education business and with both our Healthcare and Education businesses well positioned to capture significant demand growth, underpinned by favorable market and sector fundamentals.”

Dividends

The board members endorsed an interim dividend of AED 75 million for the period, equivalent to AED 3 fils per share, reflecting Amanat’s commitment to returning value to its shareholders.

Vayalil  commented” “The payment of an interim dividend of AED 75 million also demonstrates our ongoing commitment to translate growth into consistent shareholder returns through our attractive dividend policy.”

As of 31 March 2024, the DFM-listed company posted 9% YoY higher net profits at AED 48.29 million.