Response Plus Holding revenue surges 32% in 2024
Net Profit increases to AED 53.5 million; Equity rises to AED 246.5 million
Strategic acquisition of Prometheus Medical expands RPM's global reach
Abu Dhabi, United Arab Emirates: Response Plus Holding PJSC (ADX: RPM), the leading pre-hospital care and emergency medical services provider in the UAE and KSA, has released its audited financial results for the period ending December 31, 2024.
The Group's Revenue surged 32% from AED 346.1 million in 2023 to AED 456.5 million as on December 31, 2024. Net Profit increased 8% to AED 53.5 million from AED 49.4 million in the previous year. The Group's Equity increased to AED 246.5 million as on December 31, 2024 compared to AED 230 million in the previous year.
Total Assets were AED 388.7 million as on December 31, 2024 compared to AED 298.2 million as of year-end 2023. The Earnings Per Share (EPS) increased to AED 0.27 in 2024 from 0.25 a year before, reflecting RPM's commitment to profitability and shareholder value creation.
The company's positive financial results and growth in 2024 have been driven by a strong pipeline of energy and infrastructure projects in the UAE, Kingdom of Saudi Arabia, Jordan, United Kingdom, Norway and other markets. With a clear strategic growth roadmap across key markets, RPM has earmarked its revenue streams, including new lines of businesses such as wind energy, particularly in Norway.
In his comments, Omran Al Khoori, Chairman of Response Plus Holding, said: 'The robust performance of Response Plus Holding during 2024 reflects the effectiveness of our diversification strategy locally, regionally or globally. We have laid solid grounds for our expansion and growth plans, and year on year, our positive results are only confirming our leading market reputation as the experts across pre-hospital care and emergency medical services, in addition to further accelerating our growth trajectory on a global scale. We have some exciting plans for RPM in 2025.'
Among the company's key achievements in the last year was its strategic acquisition of the UK-headquartered Prometheus Medical International, which strengthened its capabilities in consultancy on Medical Risk Mitigation and niche medical training for the Defence and Energy sectors. RPM's growth was further accentuated by prestigious contracts in the UAE and strong performance in its operations in Saudi Arabia, which recorded over 115% growth in Revenue year-on-year.
Dr. Rohil Raghavan, CEO of Response Plus Holding, said: 'RPM has a strong expansion and diversification strategy in place to deliver exceptional pre-hospital care across the markets we operate in. As part of this, we are currently targeting a wide array of opportunities. The acquisition of Prometheus Medical opened up new verticals and other global markets for RPM. We also reinforced our commitment to investing in cutting-edge technologies which largely contributes to the company's optimal efficiency, productivity and growth prospects.'
Dr. Rohil added: 'We have started rolling out our new Artificial Intelligence-powered solutions for occupational health, in addition to adopting FDA-approved wearable devices to enable real-time monitoring of a patient's medical health information, helping early detection and ultimately boosting patient outcomes. This commitment to innovation is a crucial component of RPM's corporate philosophy.'
During the year, RPM announced its Medical Air Evacuation vertical with MOUs with some of the leading Air Ambulance Operators to cover Europe, Asia Pacific and Africa. RPM, along with Burjeel Holdings, also launched the $1 million Human Energy Health and Wellbeing Award last year to boost workplace wellness across the global Energy sector.
Response Plus Holding includes Response Plus Medical (RPM), which operates over 420 clinics in the oil and gas and other industrial sectors boasting a tier-one client roster with presence in the UAE, KSA and India. Apart from Prometheus Medical, the Group includes other subsidiaries such as OccuMed Clinic, Medical Manpower Supply, and Health Tech Training Centre.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Post
13 minutes ago
- Arabian Post
Dubai Mall Unveils Ambitious Expansion Amidst Soaring Visitor Numbers
Dubai Mall is set to undergo a significant expansion, with Emaar Properties announcing a substantial investment of AED 1.5 billion to enhance the mall's offerings. The development will introduce 240 new luxury retail stores and food and beverage outlets, further solidifying the mall's position as a premier global shopping destination. In 2023, Dubai Mall achieved a remarkable milestone by welcoming 105 million visitors, marking a 19% increase from the previous year. This surge in footfall underscores the mall's growing appeal and the emirate's broader strategy to boost tourism and retail sectors. The expansion aims to accommodate this increasing demand and enhance the overall visitor experience. Spanning over 1.2 million square meters, Dubai Mall currently houses more than 1,200 retail outlets, including flagship stores like Galeries Lafayette and Bloomingdale's. The mall also offers over 200 international dining options and a range of entertainment attractions, such as the Dubai Aquarium and Underwater Zoo, an Olympic-sized ice rink, a 26-screen cinema, and the Zabeel Sports District. The upcoming expansion will build upon these offerings, introducing new luxury brands and dining experiences to cater to diverse visitor preferences. ADVERTISEMENT Emaar Properties has already commenced on-site preparations for the expansion, although a specific completion date has not been disclosed. The project reflects Dubai's ambitious vision to remain at the forefront of global innovation and culture, aiming to further enhance the city's status as a top international destination. The expansion also aligns with broader trends in the United Arab Emirates' retail sector. Despite global shifts towards online shopping, the UAE has witnessed a 14% increase in retail spending, driven by sectors such as fashion, general retail, and leisure and entertainment. This growth highlights the continued relevance and appeal of brick-and-mortar retail experiences in the region. In addition to the Dubai Mall expansion, other major retail developments are underway in the city. For instance, Majid Al Futtaim has announced a $1.36 billion investment to expand the Mall of the Emirates, another prominent shopping destination in Dubai. These initiatives underscore the city's commitment to enhancing its retail infrastructure and offering unparalleled shopping experiences to residents and tourists alike.
Gulf Today
3 hours ago
- Gulf Today
India's GCC to surpass 300m sqft office leasing in 3-4 years
India is the most mature market for Global Capability Centres (GCCs), with 44 per cent of GCCs transitioning to take on end-to-end portfolio ownership, drive innovation and peer collaboration with global roles. Initially set up to save costs and help organisations with their business functions, Global Capability Centres (GCCs) have significantly made their presence felt in India. Today, the country is home to over 1,950 such centres established by top multinational corporations, to serve the global and regional market with more efficiency, according to JLL survey. According to the JLL survey, there are 245+ million sq ft Grade A stock occupied by GCCs in the top 7 cities, ~75 per cent combined share of manufacturing, IT/ITeS & BFSI. 71 per cent of all GCC demand since 2018 has been from US-headquartered firms. 40 per cent of overall office leasing activity accounted for by GCCs between 2018-2024. Global Capability Centres are set to surpass 300 million sqft in the next 3-4 years, driven by new entries and expansions. 100+ GCCs entered India in the last two years alone. 28 million sq ft of leasing by GCCs in 2024 has been reported, highest ever in a year. The 3/4th share of Bengaluru, Hyderabad and Chennai in space leased by Global Capability Centres in last two years. 75 per cent combined share of manufacturing, IT/ITeS & BFSI 71 per cent of all GCC demand since 2018 from US-headquartered firms. India is home to the largest number of GCCs globally (over 1,950). This is significantly more than other popular destinations like the Philippines, Poland or China. India has developed strong capabilities in digital technologies and their adoption. High impact areas like AI, blockchain, data analytics, cloud computing and cyber security are at the core of GCC operations in India. India's technology industry expanded its 58-lakh strong workforce by 1.2 lakhs in 2024-25, with Global Capability Centres accounting for over 1 lakh of these roles. The rise of new-age technologies will result in more digital-savvy professionals as the tech sector grows on to become $300 billion industry in FY 2025-26. These centres help centralise and standardise certain functions of the parent organisation. They provide several services, like finance, HR, IT, and procurement, at one place, thereby improving efficiency and lowering costs. Focused on research and development, these centres are innovation hubs for new products, technologies, and processes. Normally, R&D centres are oriented towards a particular field where the parent organisation has shown high levels of expertise and specialisation. These centres are meant to help organisations remotely share information. They are responsible for collating and disseminating knowledge within the organisation and across geographies. Focused on creating a hub for ideas, innovation centres foster innovation and creativity with opportunities for collaboration. These centres are where companies can develop new ideas, conduct research, and build prototypes. They offer a range of services to assist customers in any way possible. They are usually responsible for managing customer inquiries, complaints, and feedback. There are several Indian cities that are considered ideal for a GCC due to their strong infrastructure, skilled workforce, and favourable business environment. For example: Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai and Pune. Based on the type of GCC companies are looking to establish, service requirements may vary. There is a need to choose services that best match the functions and operations of the centre. Some common services include legal and regulatory compliance, real estate, technology, human resources, financial support, support services and transportation and logistics. In a world driven by cutting-edge technology, it is important for global capability centres to create a truly tech-savvy office space. The innovation hub needs to keep pace with the digital age and set a standard for the future of work. The landscape of global capability centres is rapidly evolving. Today, it's not just about cost efficiency; it's about building resilient, innovative, and talent-centric hubs. My parents gifted me a residential property in Mumbai. I hold another unit besides some equity. How to minimise tax liability if I wish to sell the unit? Sunil Prabhu, Sharjah. Generally, when you sell a residential property, one option is you can reinvest the capital gain amount into another residential unit before one year from the date or sale or within two years. In case it is invest in a project undergoing construction, the period can be extended to three years. If not wished to reinvest, the capital gain upto Rs 50 lakh can be reinvested in designated bonds. As far as equity is concerned, you can invest the entire sale proceeds into a residential property. I am based in Gulf and investing in a project in Bengaluru. Is GST applicable to all types of residential projects? Please clarify. Deepak Sinha, Dubai. The impact of GST on residential property depends on the phase of construction, the location as well as the type of project. For example, GST impact will be observed more in case of new launches as compared to near completion projects. Similarly, projects in suburban areas will be more impacted when compared to city-centre projects.
The National
a day ago
- The National
TV art guru jailed for 2.5 years for deals with suspected Hezbollah financier
An art expert who appeared on a BBC auction show was jailed for two-and-a-half years on Friday after a series of deals with a suspected Hezbollah financier. Oghenochuko Ojiri, 53, also known as Ochuko, sold artwork worth around £140,000 to Nazem Ahmad, a man designated by US authorities for alleged laundering for the Lebanese group. A regular on the Bargain Hunt programme, Ojiri was arrested two years ago by officers from the UK's National Terrorist Financial Investigation Unit. The investigation centred on alleged terrorist financing and money laundering by Mr Ahmad, an art collector and diamond dealer. Mr Ahmad, 60, a dual Belgian- Lebanese citizen, is under sanction s by Britain and the US. He has been accused of using the UK's fine art market to run an international financing operation for Hezbollah which is proscribed in the UK as a terrorist organisation. The art dealer's connection to the investigation into Mr Ahmad was first revealed by The National on Thursday, when he was charged. Ojiri is known for his appearances on the BBC's Bargain Hunt and has also appeared on the BBC's Antiques Road Trip. Ojiri had admitted to eight charges of failing to disclose his dealings with Mr Ahmad, which took place between October 2020 and December 2021, contrary to the Terrorism Act 2000. Prosecutor Lyndon Harris told the court hearing in May that Ojiri 'engaged in sales of artwork to Nazem Ahmad, a suspected terrorist financier'. Following the introduction of new money laundering regulations in January 2020 that brought the art market under the supervision of UK Customs, Ojiri is said to have discussed the changes with a colleague, indicating awareness of the rules, he told the court. 'At the time of the transactions, Ojiri knew Mr Ahmad had been sanctioned in the US,' Mr Harris said. 'He accessed news reports about Mr Ahmad and engaged in conversations with others about that, which indicates that he had information about Mr Ahmad.' Mr Ahmad was first accused by the US Treasury in 2019 of laundering substantial amounts of money and being involved in the smuggling of 'blood diamonds' for Hezbollah. He was sanctioned, then in April 2024 charged by the US along with eight associates with offences relating to breaching sanctions regulations. Police swooped on the high-security depot near London's Heathrow Airport in 2024, taking away nearly two dozen works of art belonging to Mr Ahmad, which they believe would probably have funded Hezbollah.
