UAE -Burjeel Holdings, a prominent hospital operator listed on the Abu Dhabi Securities Exchange (ADSE), has experienced a setback with a 14% decline in net earnings.
While the company observed a substantial increase in revenue, its net profit experienced a notable dip.
During the first quarter of 2024, Burjeel Holdings reported a remarkable growth in revenue, reaching AED 1.2 billion (US$ 326.7 million), signifying a double-digit expansion.
However, the net profit for the same period witnessed a decline, with a total of AED 104 million (US$ 28.31 million), marking a 14% decrease compared to the corresponding period in the previous year.
Nevertheless, the company’s profit, excluding one-offs and taxes, exhibited a positive trend, soaring by 16.3% to AED 141 million (US$ 38.4 million).
This surge was underpinned by various factors including the revenue growth of 11%, improved operational efficiencies, and reduced finance costs.
Burjeel Holdings attributed the robust financial performance to its hospitals segment, which emerged as the primary driver of overall results.
This segment contributed 90% of the total revenue during the first three months of the year.
Notably, the group’s flagship hospital BMC, along with other high-growth assets, showcased strong top-line growth, facilitating the segment’s success.
The hospitals segment also recorded significant milestones, witnessing an 11% growth in inpatient footfall.
Key contributors to this growth included BMC, Burjeel Hospital Abu Dhabi, Medeor Hospital Dubai, and Burjeel Royal Hospital Al Ain.
Moreover, the segment experienced a substantial 13.5% increase in revenue, reflecting its operational strength and market positioning.
Lifeline of Medical Support for Gaza Residents
While Burjeel Holdings navigates its financial landscape, another significant healthcare initiative underscores the UAE’s commitment to global welfare and humanitarian assistance.
UAE’s Floating Hospital in Al Arish provides essential medical aid and surgical care to the Palestinian community amidst challenging circumstances
Situated in the Egyptian city of Al Arish, the UAE Floating Hospital stands as a beacon of hope, offering vital medical services to the residents of the Gaza Strip.
In the midst of ongoing conflict and humanitarian challenges, the hospital remains steadfast in its mission to provide therapeutic, surgical, and humanitarian aid to those in need.
This commitment to humanitarian assistance aligns with the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, who emphasized providing unwavering support to the Gaza Strip residents through “Operation Chivalrous Knight 3.”
Established through a collaboration between the Ministry of Defence and Abu Dhabi Ports Group, the Floating Hospital boasts a diverse team of medical professionals and administrative staff.
Specialists in various fields ensure comprehensive care, ranging from anesthesiology and general surgery to emergency and intensive care.
Dr. Ahmed Mubarak, Director of the Floating Hospital, highlights the facility’s state-of-the-art equipment and adherence to international standards.
Equipped with advanced medical technology and a capacity of 100 patient beds, the hospital prioritizes comfort and personalized care for patients and their families.
Since its inception, the hospital has performed 328 surgeries and currently accommodates 153 patients across gender-specific wards.
Swift medical interventions are facilitated through a helipad and naval vessels, enhancing emergency response capabilities and underscoring the commitment to saving lives in Gaza.
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