Healthcare and education investment firm Amanat Holdings said Monday its adjusted net profit for the first nine months of 2022 rose 6% year-on-year to $16.5 million (AED 60.8 million).
The adjusted total income increased 17% in the first nine months of 2022, compared to the same period a year earlier, to reach $28.9 million (AED 106.3 million).
The adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) was also up by 19% in the period to $30 million (AED 110.1 million) from $25.13 million (AED 92.3 million) for the year-ago period.
Hamad Alshamsi, chairman of the company, said that the balance sheet would continue to fund deployment while protecting it from rate pressures in the near term.
Amanat attributed the growth to its portfolio companies despite the challenging global and regional economic conditions.
“Following record 2021 performance, our portfolio of market-leading companies continues to grow and demonstrate resilience while executing clearly defined growth strategies," said Amanat CEO Mohamad Hamade.
The adjusted results exclude prior year gain on sale and trading results from divested entities. Without excluding the prior year's gain on the sale of and trading results from divested entities, the net profit was down 79%, and the total income was down by 65%.
