UAE: Amanat posts lower profits to owners at over $15.25mln in 9M-22


UAE: Amanat posts lower profits to owners at over $15.25mln in 9M-22

Industry news, Real Estate, Financial Markets, Banking, Startups, Stock Exchange, Oil & gas, Technology, Professionals, Business news, Research

Dubai – Amanat Holdings generated AED 56.22 million net profits attributable to the shareholders in the first nine months (9M) of 2022, lower than AED 273.82 million in 9M-21.

Revenues amounted to AED 344.28 million in 9M-22, higher than AED 282.99 million in 9M-21, according to the income statements.

The basic and diluted earnings per share (EPS) went down to AED 0.02 in January-September 2022, compared to AED 0.11 during the same period in 2021.

In the third quarter (Q3) of 2022, the UAE-based firm turned to net losses attributable to the equityholders at a value of AED 10.42 million, against net profits worth AED 38.47 million in Q3-21.

The revenues declined to AED 87.17 million in Q3-22 from AED 89.35 million in the year-ago period.

During Q3-22, the basic and diluted loss per share stood at AED 0.004, versus a profit per share of AED 0.015 in the July-September 2021 period.

Hamad Alshamsi, Chairman of Amanat, said: “Despite the challenging global and regional economic conditions, Amanat’s portfolio companies continue to deliver growth. Looking ahead, our balance sheet will continue to fund deployment whilst protecting us from rate pressures in the near term.”

Alshamsi elaborated: “This, along with the recent acquisition of HDC and entry into the