Amanat turns into losses in the second quarter by about 5 million dirhams

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Economic – UAE:

Turned Amanat Holding Company “Amanat” For losses during the second quarter of this year, a net loss of 5.1 million dirhams was incurred, compared to a net profit of 14.4 million dirhams in the second quarter of 2019.

The company clarified in its statement on “Dubai Financial Market“That it recorded a net profit of 600 thousand dirhams during the first half of this year, compared to 35.1 million dirhams in the same half of 2019, a decrease of 98%.

“Amanat” attributed the decline in profits during the first half to the increase in general and administrative expenses by 17%, and the recording of a loss of the share in the results of sister companies valued at 9.1 million dirhams, compared to achieving profits of 22.6 million dirhams in the same period of 2019.

During the first quarter of this year, the company recorded a net profit of 5.7 million dirhams, compared to a net profit of 20.7 million dirhams in the same quarter of 2019.

The net profit of “Amanat”, which operates in the health care and education sectors, rose to 60 million dirhams last year, compared to a net profit of 42.9 million dirhams in 2018.

“Amanat” focuses on investing in countries.GCCAnd it has several investments including in Taaleem Holding Company “Taaleem” In the Emirates, and “International Medical Center“In Saudi Arabia,”Middlesex Associates Inc.“.

Amanat’s shares have been listed on the Dubai Financial Market since 2014, and the company’s general assembly approved by the end of April 2020 to delist its shares from the Dubai Financial Market and list them onAbu Dhabi Securities Exchange“.





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