Dubai – Mubasher: Amlak Finance has achieved net profits attributable to the equity holders of AED 1.05 billion in 2021, against net losses of AED 451.10 million in 2020, according to the company's consolidated financials for the year ended 31 December 2021.
The company's income from Islamic financing and investing assets declined to AED 156.86 million in 2021 from AED 164.71 million in the earlier year.
The basic earnings per share (EPS) settled at AED 0.71 last year, against basic losses per share of AED 0.30.
Meanwhile, the diluted EPS stood at AED 0.38 in 2021, versus net losses of AED 0.30.
The company has incurred accumulated losses of AED 1.31 billion as of 2021, representing 87.6% of the company's capital.
Commenting on the company's performance, the Chairman of Amlak Finance, Ali Ibrahim Mohammed, said: "It is noteworthy to mention the successful conclusion of the arbitration case in favour of Amlak Finance was a key milestone during the year."
Meanwhile, the CEO of Amlak Finance, Arif Albastaki, commented: "We remained focused on enhancing the value of our Egypt operations which showed a steady growth of 10% in net profit throughout the year."
