2023-05-09 11:39:42
Abu Dhabi – Mubasher: The profits of Burjeel Holding Company, which invests in the health sector in the UAE, increased by 45 percent during the first quarter of 2023.
The company stated in a statement that its profits amounted to 118.8 million dirhams at the end of the first quarter of 2023, compared to profits of 82.2 million dirhams achieved during the same period in 2022.
The company’s revenues increased by the end of the first quarter of this year by 12% compared to the revenues of the same period of the previous year, in addition to a decrease in the depreciation of property and equipment by 11%, to reach 58.6 million dirhams, compared to 66 million dirhams during the first quarter of 2022.
The amortization of intangible assets decreased by 31% to reach 872.1 thousand dirhams, compared to 1.3 million dirhams during the first quarter of 2022.
The consumption of right-of-use assets decreased by 4% to reach 25.6 million dirhams, compared to 26.8 million dirhams during the same period of the previous year.
The provision for expected credit losses decreased by 36% to reach 17.9 million dirhams, compared to 28 million dirhams during the first quarter of 2022, in addition to a decline in financing costs by 37%, to 35.1 million dirhams, compared to 55.3 million dirhams during the same period last year.
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