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  • 13-08-18

    Dubai's Amanat records 12.7 percent boost in Q2 net profit

    (MENAFN) Dubai's Amanat Holdings was confirmed to have seen a raise in its net profit by 12.7 percent during the second quarter of 2018.

    The increase in net profit was explained to be driven to higher income from the company's equity investments.

    In a statement to the Dubai Financial Market, the company unveiled that it saw a boost to Dh13.4 million in its net profit which is attributable to equity holders for the three months to the end of June.

    However, the company recorded a 22.4 percent year-on-year decline in its total revenue due to lower income from deposits.

    Amanat's chairman Hamad Al Shamsi stated "Amanat's strong financial performance in the first half of the year is testament to our investment strategy, which has proven to be effective very early on."

    The chairman added "in addition, Amanat is well placed to deliver solid progress as we continue to create value in our existing portfolio and further diversify our asset base with the acquisition of high-quality education and healthcare assets in the GCC and other markets."

    MENAFN1308201800450000ID1097287579

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