Dubai – Mubasher: Watania International Holding has incurred accumulated losses valued at AED 45.90 million as of 31 December 2023, representing 17.67% of the capital, according to a bourse disclosure.
The company reported an exceptional loss of AED 53 million in 2022 due to one-off merger costs, the increased hospital utilisation post-COVID and market-driven pricing pressures during the pandemic.
Dar Al Takaful changed its name to Watania International Holding last July.
In 2023, Watania International Holding turned profitable at AED 13.27 million, against net losses of AED 53.13 million in 2022.
Basic and diluted earnings per share (EPS) hit AED 0.05 as of 31 December 2023, compared to a loss per share of AED 0.20 a year earlier.
Net operating income hiked to AED 35.73 million last year from AED 3.79 million in 2022.
