the adjusted net profit of Amanat Holding Company decreased by 53% to reach 16.5 million dirhams during the first half, compared to 35.1 million dirhams during the same period in 2019.
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According to Al Bayan newspaper, the adjusted total income reached 43 million dirhams, which is an annual decline of 32.6%, while the adjusted income from investments reached 37.4 million dirhams, with an annual decrease of 31.4%.
The decrease in net profit is due to the decline in the contribution of a safety deposit in the health care sector to the total income due to the repercussions of the (Covid 19) pandemic. In income at an annual rate of 5.4%, it contributed to partially reducing the negative impact. The net income was also significantly affected by recording exceptional provisions of 15.9 million dirhams related to the old debit balances of Sukoon International Holding Company.
Hamad Al Shamsi, Chairman of the Board of Directors of Amanat, expressed his pride in the company's ability to continue to achieve the best return on investment for shareholders despite the exceptional challenges resulting from the spread of the pandemic, as this reflects The company's unique ingredients.
(Amazon fun knowledge)
