Amanat Holdings PJSC Announces Net Profit to AED 9.5 million

Amanat Holdings PJSC (" Amanat"), the region's biggest integrated health care and education company, today announced a net earnings of AED 9.5 million for the first quarter of 2016, compared to AED 1.5 million reported for Q1 2015.

Amanat's overall income for the 3 months was AED 16.6 million, more than double that for the matching 2015 duration, comprising AED 15.5 million in interest earnings mainly from Mudarabah and Wakala deposits, and a realized gain of AED 1.1 million from the sale of its remaining stake in Al Noor Hospitals Group. Business expenses stood at AED 9.4 million.

The share of profit from the financial investment in Sukoon International Holding Company PJSC (" Sukoon") came at AED 2.2 million in Q1 2016. During Q1 2016, Amanat has invested a more SAR 16.625 million in Sukoon, which represents its allocated share of a pre-agreed and organized capital boost completing SAR 52.6 million earmarked for growth.

Since 31 March 2016, Amanat's shareholders' equity was AED 2,566.4 million (AED 1.027 per share).

Faisal Bin Juma Belhoul, Chairman of the Board of Amanat: "We are pleased to report to you another set of strong outcomes and to show to you our 2 portfolio companies namely, Sukoon and Madaares PrJSC which are both leading assets within their sectors and their geographic existence. Amanat will remain to be disciplined in sourcing preferable chances in the health care and education sectors where there is substantial capacity for long-lasting development, and where our team can create value."