PALMS SPORTS PrJSC

Palms Sports, a leading sports management company and the largest provider of Jiu-Jitsu training, has renewed a two-year government contract worth AED 49.5 million. This renewal continues a successful partnership that began in 2015, aimed at enhancing national capabilities through sports. The company offers specialized training in Jiu-Jitsu and self-defense, led by 60 highly skilled coaches. The renewed contract underscores Palms Sports' commitment to excellence and its strong relationship with the government sector. CEO Fouad Darwish expressed pride in the partnership, emphasizing the company's dedication to fostering innovation and professionalism in sports. Palms Sports aims to drive growth and build a thriving sports ecosystem, solidifying its position as a leader in the industry.

Abu Dhabi-based sports management company, Palms Sports, has acquired an 80% stake in Yas Physiotherapy Center, a leading musculoskeletal and sports injury treatment and rehabilitation clinic. The acquisition fits into Palms Sports' strategy of diversification and expansion into new sectors. Palms Sports, the world's largest Jiu-Jitsu training provider, views the acquisition as a way to complement its core business, offering more comprehensive services to its stakeholders and partners, and enhancing its portfolio in the healthcare sector.

The text is about the interim condensed consolidated financial statements of Palms Sports PJSC, covering the period ending on 31 March 2024.