Response Plus Holding, which provides remote health and emergency services, reported a nearly 65 per cent rise in net profit for the first half of the year as revenue surged.
The company, a unit of Alpha Dhabi Holding, reported a net profit of Dh20.6 million ($5.6m) in the January-June period, compared with Dh12.5m during the same period in 2021, it said in a statement to the Abu Dhabi Securities Exchange, where its shares are traded.
Revenue for the period rose more than 130 per cent annually to Dh162.6m, while total assets at the end of June stood at Dh323.7m.
“The company has sustained its financial growth trajectory," said Tom Louis, chief executive of Response Plus Holding.
“While external socioeconomic factors continue to impact the market dynamics, we remain committed to support our clients to navigate these challenges, which was reflected in our Q2 performance."
Response Plus, which manages more than 260 site clinics, has the largest private fleet of ambulances in Abu Dhabi. The company, founded in 2010, listed on the Abu Dhabi Securities Exchange's Second Market in September 2021.
It is currently focused on expanding its footprint in Saudi Arabia, India and Egypt, "towards which significant investments and advancement have been made in the current year", the Response Plus statement said.
The company is in the process of setting up an occupational health centre in Damman, a training centre in Riyadh, and will soon commence medical training, global patient transfer and operation of remote site services in India, for which a new subsidiary was set up in the second quarter of the year.
Response Plus is also continuing to expand its services in its core UAE markets, with new contracts for the provision of emergency medical services for residential flights, outsourcing and management of Abu Dhabi Health Services Company (Seha) Ambulance, and supply of medical manpower to Seha, in addition to new contracts for remote site clinics and events, it said.
The company's net profit in the second quarter reached Dh6.3m, compared with Dh13.5m in the same period last year.
Revenue for the quarter rose nearly 8 per cent to Dh74.98m.
In view of the "strong performance and cash generation", the company is planning to distribute interim dividends subject to shareholder and regulatory approvals, it said.
Spain drain
CONVICTED
Lionel Messi Found guilty in 2016 of of using companies in Belize, Britain, Switzerland and Uruguay to avoid paying €4.1m in taxes on income earned from image rights. Sentenced to 21 months in jail and fined more than €2m. But prison sentence has since been replaced by another fine of €252,000.
Javier Mascherano Accepted one-year suspended sentence in January 2016 for tax fraud after found guilty of failing to pay €1.5m in taxes for 2011 and 2012. Unlike Messi he avoided trial by admitting to tax evasion.
Angel di Maria Argentina and Paris Saint-Germain star Angel di Maria was fined and given a 16-month prison sentence for tax fraud during his time at Real Madrid. But he is unlikely to go to prison as is normal in Spain for first offences for non-violent crimes carrying sentence of less than two years.
SUSPECTED
Cristiano Ronaldo Real Madrid's star striker, accused of evading €14.7m in taxes, appears in court on Monday. Portuguese star faces four charges of fraud through offshore companies.
Jose Mourinho Manchester United manager accused of evading €3.3m in tax in 2011 and 2012, during time in charge at Real Madrid. But Gestifute, which represents him, says he has already settled matter with Spanish tax authorities.
Samuel Eto'o In November 2016, Spanish prosecutors sought jail sentence of 10 years and fines totalling €18m for Cameroonian, accused of failing to pay €3.9m in taxes during time at Barcelona from 2004 to 2009.
Radamel Falcao Colombian striker Falcao suspected of failing to correctly declare €7.4m of income earned from image rights between 2012 and 2013 while at Atletico Madrid. He has since paid €8.2m to Spanish tax authorities, a sum that includes interest on the original amount.
Jorge Mendes Portuguese super-agent put under official investigation last month by Spanish court investigating alleged tax evasion by Falcao, a client of his. He defended himself, telling closed-door hearing he "never" advised players in tax matters.
Day 1, Abu Dhabi Test: At a glance
Moment of the day Dimuth Karunaratne had batted with plenty of pluck, and no little skill, in getting to within seven runs of a first-day century. Then, while he ran what he thought was a comfortable single to mid-on, his batting partner Dinesh Chandimal opted to stay at home. The opener was run out by the length of the pitch.
Stat of the day - 1 One six was hit on Day 1. The boundary was only breached 18 times in total over the course of the 90 overs. When it did arrive, the lone six was a thing of beauty, as Niroshan Dickwella effortlessly clipped Mohammed Amir over the square-leg boundary.
The verdict Three wickets down at lunch, on a featherbed wicket having won the toss, and Sri Lanka’s fragile confidence must have been waning. Then Karunaratne and Chandimal's alliance of precisely 100 gave them a foothold in the match. Dickwella’s free-spirited strokeplay meant the Sri Lankans were handily placed at 227 for four at the close.
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