Dubai: Amanat reports 43% jump in Q1 profits

Tristan de Boysson, chief executive officer, Amanat Holdings

Amanat Holdings, the GCC’s largest healthcare and education investment company, has reported a 43% jump in net profits for the first quarter of the year thanks to what chief executive officer Tristan de Boysson called the group’s “active investing strategy”.

Profits rose 43% to D20.7m (US$5.6m) on revenues that rose 30% to D35.4m.

If the figures were to exclude the Royal Hospital for Women & Children, which was recently opened and expected to record pre-operating losses during its ramp up phase, Amanat would have recorded an 37% growth in income.

The company acquired a majority stake in the hospital in August last year.

Amanat deployed D1.2bn last year to reach D2bn of deployment since inception, marking 79% of the D2.5bn paid up capital.

“The strong results and healthy growth achieved in Q1 2019 reflect the benefits of our active investing strategy and the collaborative approach we implement to create value in each of our leading assets,” said de Boysson. “We are keen to continue enhancing the performance of our specialized leading platforms in healthcare and education, as we aim to build on them to generate additional income and keep on creating long term value and sustainable returns for our shareholders.”