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FINANCIAL NEWS
UAE’s Amlak profit up 500pct in H1
09 Aug 2016
(MENAFN) Amlak Finance posted almost 500 percent Y/Y increase in its H1 2016 net profit, while it faced a net loss of Dh35.5mn in Q2 on rising provisions.
Additionally, the firm’s whole revenue stood at Dh465mn in the first half this year, compared to Dh214mn in H1 of 2015.
On the other hand, the strong revenue performance was driven by income produced from the real estate investment business, which posted Dh134mn.
However, revenues from financing business activity dropped by 29 percent in H1 this year to Dh104mn from Dh147.4mn for the same period last year.
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