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Amlak Finance announces net profit jump by 155 per cent
Amlak Finance PJSC, yesterday announced a 155 per cent jump in its net profits for the first half of this year.
- Staff Report
- Published: 16:10 July 6, 2008
Dubai: Amlak Finance PJSC, on Sunday announced a 155 per cent jump in its net profits for the first half of this year.
At the end of June 2008, the company's profits were at Dh269 million, surging up from Dh106 million in first half of 2007.
The finance company's revenue figures for the first six months were posted at Dh620 million, up 114 per cent against the same period last year, while the company's property financing activities contributing to 52 per cent of the total revenues.
Total assets, as of June 2008, stood at Dh14.2billion, a growth of 133 per cent compared to Dh6.1billion as at June last year.
Total volume of business reached Dh17.1billion at half year 2008, consisting of Dh8.6billion of financing and investing assets, with a further Dh2.4billionn of financing commitments extended to customers, marking an increase of 80per cent compared to half year 2007, and a portfolio of Dh6billion of real estate investments.
“There were indeed great efforts and major planning that led us to celebrate today these remarkable figures, which once again place us as the leading real estate financing company in the UAE and the region,'' said Nasser Bin Hassan Al Shaikh, chairman of Amlak Finance PJSC.
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