Response Plus Holding's Net Profit Jumps 68% To AED 49.39 Million In 2023

Response Plus Holding PJSC (ADX: RPM), a prominent healthcare provider in the UAE and KSA, has announced a significant increase in its financial performance for the year ending December 31, 2023. The company's audited financial results reveal a notable 68 percent rise in net profit, reaching AED 49.39 million, up from AED 29.31 million in the previous year. This growth is accompanied by an increase in revenue, which climbed to AED 345.36 million from AED 320.86 million.

The Group's equity also saw an uplift, amounting to AED 230.04 million by the end of 2023, compared to AED 222.9 million a year earlier. Furthermore, Earnings Per Share (EPS) escalated to AED 0.25 from AED 0.15, underscoring the Group's dedication to enhancing profitability and generating value for its shareholders.

These financial achievements underscore the effectiveness of Response Plus Holding's growth strategy, which includes a focus on operational efficiency and productivity. The company has also expanded its presence in the UAE and the broader region, contributing to its strong performance across various business verticals.

Omran Al Khoori, Chairman of Response Plus Holding, expressed his satisfaction with the company's performance in 2023. He highlighted the success of the Group's diversified operations across the UAE, KSA, and other regions. Al Khoori remains optimistic about the company's future growth prospects, emphasizing plans to deepen expertise in pre-hospital care and emergency medical services and expand into new markets.

Dr Rohil Raghavan, CEO of Response Plus Holding, also commented on the Group's impressive results. He attributed this success to the company's commitment to operational excellence and strategic partnerships within and beyond the region. Dr Raghavan outlined plans for expanding services into different business verticals related to pre-hospital care and focusing on operational synergies and cost efficiencies.

In line with its growth strategy, Response Plus Holding has broadened its geographical footprint through significant initiatives such as establishing the Response Plus Medical Complex (RPMC) in Dammam, Saudi Arabia. This facility marks the first specialised private occupational healthcare centre in KSA. Additionally, RPM Projects secured contracts for 100 site clinics during the year.

The Group has also met its Emiratisation targets and achieved JCI accreditation for ambulatory care services at ADNOC site clinics in 2023. Another milestone was the strategic acquisition of Prometheus Medical, a UK-based leader in healthcare training and consultancy services. This move is expected to further bolster Response Plus Holding's capabilities and service offerings in pre-hospital care and emergency medical services.

Through these achievements and strategic expansions, Response Plus Holding PJSC demonstrates its commitment to enhancing healthcare provision in the UAE, KSA, and beyond. The company's strong financial performance in 2023 sets a solid foundation for continued growth and innovation in the healthcare sector.

With inputs from WAM