Amlak Finance’s profits up 8% in Q1-23; accumulated losses hit $217.71mln

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The total income grew by 11% year-on-year

Staff Writer, Mubasher

May 15, 2023

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Dubai – Amlak Finance registered net profits worth AED 14.12 million in the first quarter (Q1) of 2023, an annual rise of 8% from AED 13.08 million.

The total income grew by 11% year-on-year (YoY) to AED 74.16 million during Q1-23 from AED 67.10 million, according to the consolidated interim financial results

Basic earnings per share (EPS) hit AED 0.009 during January-March 2023, unchanged from Q1-22.

Accumulated Losses

The DFM-listed company incurred accumulated losses valued at AED 799 million as of 31 March 2023, accounting for 53% of the capital.

During the 12-month period that ended on 31 December 2022, Amlak Finance generated AED 476.14 million in net profit, compared to AED 1.05 billion in 2021.

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