UAE's Amanat posts 83% drop in profits for 2020 - Arabianbusiness
Amanat Holdings, the GCC’s largest healthcare and education investment company, has revealed a net profit of $2.75 million for 2020, despite the economic impact of Covid-19, although this was down considerably by around 83 percent compared to the $16.3m profits announced in 2019.
The company reported total income of $19.2 million for the last 12 months, down 36.8 percent year-on-year, while income from investments was $15.3 million, a drop of 22.3 percent of 2019 figures.
Chief executive officer of Amanat, Dr. Mohamad Hamade, said: “Looking back at 2020, our results reflect our proactive response strategy that was focused on mitigating short-term impacts and positioning us for long-term growth.”
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