Oct 23 2011 |
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Tamweel net profit for first 9 months of 2011 reaches AED 70.7 million, up 295 per cent
Third quarter net profit reaches AED 15.7 million, up 114 per cent
Company continues to introduce pioneering products and services, supporting growth of UAE property sector
For the first nine months of 2011, Tamweel reported a net profit of AED 70.7 million, an increase of 295 per cent compared to AED 17.9 million in the same period last year.
For the third quarter of 2011, the company reported a net profit of AED 15.7 million, compared to AED 7.3 million in the same period in 2010, representing an increase of 114 per cent.
Varun Sood, Acting Chief Executive Officer of Tamweel , said: "These positive results highlight our ability to achieve consistent profitability by providing products and services tailored to meet the evolving needs of homeowners. Indeed, we believe that our sustained success is a reflection of our customer-centric focus as an organisation."
-Ends-
About
Tamweel
PJSC:
Tamweel
PJSC is a provider of real estate finance in the UAE.
Tamweel
was established in March 2004, became a public joint stock company in June 2006 and was listed on the Dubai Financial Market in July 2006.
For more information, please visit www.tamweel.ae
For further information, please contact:
Nicholas Nesson / Liam Turner
ASDA'A Burson-Marsteller
Dubai, UAE
Tel: 971-4-4507 600
Fax: 971-4-4358 400
E-mail: n.nesson@asdaa.com / l.turner@asdaa.com
© Press Release 2011
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