Amlak Finance 2017 net profit more than halves as revenues slump - The National

Amlak Finance 2017 net profit more than halves as revenues slump - The National:

"Dubai-based mortgage lenderAmlak Finance on Monday recorded more than 50 per cent slump in 2017 full-year net profit after revenues declined for Sharia-compliant home financier amid a softer property market. The lender reported full-year net income of Dh51.33 million for the 12-month period to December end, down from Dh107.04m reported year-earlier, the company said in a statement to Dubai Financial Market, where its shares are traded. The net operating profit decreased to Dh176.1m at the end of last year from Dh234.44m for 2016. Total revenues dropped to Dh432.45m from Dh778.19m for the same period, the company said without explaining why its profits and revenues have decline. The earning per share also more than halved for to Dh0.027 from Dh0.071."



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