Dubai – Mubasher: Amlak Finance recorded net profits worth AED 389.90 million in the first nine months (9M) of 2022, a plunge from AED 1.08 billion in 9M-21.
The total income reached AED 504.03 million during 9M-22, lower than AED 1.21 billion in the year-ago period, according to the income statements.
Basic earnings per share (EPS) attributable to equityholders stood at AED 0.25 in the January-September 2022 period, down from AED 0.72 in 9M-21.
Amlak Finance registered accumulated losses worth AED 824 million as of 30 September 2022, accounting for 55% of the capital.
During the third quarter (Q3) of 2022, the net profits plummeted to AED 123.56 million from AED 887.14 million in Q3-21, while the total income shrank to AED 193.94 million from AED 875.44 million.
The basic EPS attributable to shareholders declined to AED 0.08 in July-September 2022, compared to AED 0.59 during the same period a year earlier.
In 6M-22, the company’s net profits amounted to AED 266 million, higher by 35% year-on-year (YoY) than AED 197 million.
