Response Plus Holding reports nearly 65% rise in first-half net profit

UAE health services provider records 130% surge in revenue in the January-June period

Response Plus Holding listed on the Abu Dhabi Securities Exchange's Second Market in September 2021. Reuters
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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.

Updated: July 28, 2022, 10:43 AM
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