Latest news with #Dh343
Khaleej Times
10-04-2025
- Business
- Khaleej Times
PureHealth announces Dh343 million dividend in strong first year post-listing
PureHealth Holding, the largest healthcare group in the Middle East, has announced, following its Annual General Assembly (AGM), shareholder approval for its first-ever dividend distribution since listing on the Abu Dhabi Securities Exchange (ADX) in December 2023. The final dividend as recommended by PureHealth's board of directors amounts to a total of Dh343 million (Dh3.09 fils per share) for the 2024 financial year, representing 20 per cent of the group's net profit. This follows the completion of PureHealth's first full financial year as a publicly listed company. "The approved dividend highlights the strength of PureHealth's balance sheet, its ability to generate returns for shareholders, and its capacity to grow the business while maintaining a robust capital position," a company statement said. Shaista Asif, PureHealth group chief executive officer, commented: 'This dividend demonstrates the Group's ability to generate strong returns and create value for shareholders whilst retaining its ability to execute on its ambitious growth plans including global expansion opportunities.' PureHealth concluded the 2024 financial year with exceptionally strong financial performance, underscored by revenues of Dh25.8 billion, earnings before interest, taxes, depreciation and amortisation (Ebitda) of Dh4.1 billion, and a net profit of Dh1.7 billion. Bolstered by a substantial cash position of Dh11.9 billion and maintaining an impressively low leverage ratio of approximately 0.1x, the group's balance sheet provides ample strategic flexibility. Operating within a resilient sector, PureHealth's robust financial footing positions it comfortably to pursue its ambitious growth and acquisition agenda, further solidifying its status as a prominent healthcare group in the region and beyond. As part of its continued growth, PureHealth recently acquired a 60 per cent stake in Hellenic Healthcare Group from the global private equity firm CVC, which will remain as a minority partner alongside PureHealth within the acquired entity. The Group remains focused on expanding its presence and capabilities to drive excellence across its global operations. The approved dividend marks a key milestone in PureHealth's journey as a publicly listed entity, reflecting its strong financial standing and commitment to delivering shareholder value. Following shareholder approval at the AGM, the last day for shareholders to be eligible for the dividend is April 17, 2025, with distribution on May 8, 2025.
Gulf Insider
29-03-2025
- Business
- Gulf Insider
UAE Eid Al Fitr: Gold Shoppers Will Get A Price Shock After Another Record Climb
Shoppers in the UAE, Saudi Arabia and other Gulf states wanting to pick up jewellery as part of their Eid Al Fitr buys have received a big jolt – gold prices are in a record-setting race. New price peaks are being touched every few minutes, with bullion trading at $3,070 an ounce plus. So far today, gold is higher by an eye-watering $53.51. Needless to say, the $3,070 plus levels are the highest gold has touched to date. It was in mid-March that it had broken through $3,050 an ounce. The UAE gold rate gained Dh4 to be at Dh343 a gram for 22K, reflecting the steep increases in global bullion rates. Local rates had closed at Dh339.5 a gram for 22K, which itself was higher by Dh4.25 from just a week ago. And a significant Dh20 up on the UAE gold rate of March 1. The Saudi gold rate for 22K is at SR347. 'The surge in gold prices will likely have a noticeable impact on Eid shopping,' said Anil Dhanak, Managing Director of Kanz Jewels. 'High gold prices often lead consumers to scale back their spending on jewelry and related items, as the cost becomes a significant concern. This could certainly result in subdued sales during the festive season, as shoppers may prioritize their budgets differently.' The surge in gold prices will likely have a noticeable impact on Eid shopping Anil DhanakManaging Director of Kanz Jewels 'We had been expecting some sort of gold rush from UAE shoppers to make the imminent start of Eid Al Fitr holidays,' said a leading jewellery retailer in Dubai. 'But a $50 spike today will be difficult to bear for a majority of shoppers. We hope they will still buy, even if the jewellery comes in at a fewer grams than they had planned on.' Jewellery retailers are still hoping that Saudi tourists coming for the Eid break will still buy, to help the gain the VAT advantage. (Tourists to the UAE are re-compensated the 5% UAE VAT charges. In Saudi Arabia, the VAT is at 15%.) 'What's happening today is an out and out price shock,' said a jeweller. 'If shoppers were telling themselves that it's OK to buy gold when it's at $3,050 levels, they will need a lot of convincing to do so when prices are at $3,070.' Gold purchases during Eid is one of the high-demand points in the UAE shopping calendar. Any drop in sales would then set up a difficult April for jewellers, more so with the Indian festival of 'Akshaya Trithiya' being on April 30. (The festival is marked by heavy gold purchase demand among Indian shoppers.) A lot of things are happening at the same time when it comes to what's driving gold prices. There's the constant talk from President Trump on tariffs, and he's jacked up those on car imports into the US to 25%. And on April 2, his administration is to announce a raft of more tariffs, all of which is jolting markets. Amidst all this, the dollar's also weakening, and that has spurred the heavy institutional investor interest in gold. But what's good for institutional investors is definitely not what gold shoppers want to be saddled with – i.e., record gold prices. UAE gold shoppers have tried everything – exchange old for new (and made some seriously good pay-offs from that), booked early to lock-in prices, and waited for jewellers to offer discounts on making charges. Some have even waited for 'no making charge' offers. Having done all that, consumers are hoping that gold prices will cool off from these $3,000 and over levels. Can that happen? For that, there has to be less talk about tariffs for a start.
Khaleej Times
18-03-2025
- Business
- Khaleej Times
PureHealth proposes Dh343 million dividend following strong first year post-listing
PureHealth Holding, the largest healthcare group in the Middle East, has announced a proposal for its first-ever dividend distribution since listing on the Abu Dhabi Securities Exchange (ADX) in December 2023. The Board of Directors has recommended a total dividend of Dh343 million (Dh3.09 fils per share) for the 2024 financial year, representing 20 per cent of the Group's net profit. The proposal is set for shareholder approval at the Annual General Meeting (AGM) on April 9. This follows the completion of PureHealth's first full financial year as a publicly listed company. 'The proposed dividend highlights the strength of PureHealth's balance sheet, its ability to generate returns for shareholders, and its capacity to grow the business while maintaining a robust capital position. The remainder of the Group's profits will be retained, providing financial flexibility to support future growth plans and potential global expansion opportunities,' a statement said. PureHealth concluded the 2024 financial year with exceptionally strong financial performance, underscored by revenues of Dh25.8 billion, Ebitda of Dh4.1 billion, and a net profit of Dh1.7 billion. Bolstered by a substantial cash position of Dh11.9 billion and maintaining an impressively low leverage ratio of approximately 0.1x, the Group's balance sheet provides ample strategic flexibility. Operating within a resilient sector, PureHealth's robust financial footing positions it comfortably to pursue its ambitious growth and acquisition agenda, further solidifying its status as a prominent healthcare group in the region and beyond. As part of its continued growth, PureHealth recently acquired a 60 per cent stake in Hellenic Healthcare Group from the global private equity firm CVC, which will remain as a minority partner alongside PureHealth within the acquired entity. The Group remains focused on expanding its presence and capabilities to drive excellence across its global operations. The proposed dividend marks a key milestone in PureHealth's journey as a publicly listed entity, reflecting its strong financial standing and commitment to delivering shareholder value. Pending approval at the AGM, the dividend distribution will demonstrate the Group's ability to generate returns and create value for shareholders.
Al Etihad
18-03-2025
- Business
- Al Etihad
PureHealth proposes Dh343 million dividend following strong first year post-listing
18 Mar 2025 12:41 ABU DHABI (ALETIHAD)PureHealth Holding has announced a proposal for its first-ever dividend distribution since listing on the Abu Dhabi Securities Exchange (ADX) in December Board of Directors has recommended a total dividend of Dh343 million (Dh3.09 fils per share) for the 2024 financial year, representing 20% of the Group's net proposal is set for shareholder approval at the Annual General Meeting (AGM) on April 9, follows the completion of PureHealth's first full financial year as a publicly listed company, reflecting the Group's strong performance and financial resilience. PureHealth concluded the 2024 financial year with exceptionally strong financial performance, underscored by revenues of Dh25.8 billion, EBITDA of Dh4.1 billion, and a net profit of Dh1.7 billion.
