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Amlak profits plunge to Dh51m in 2017

Real estate financier’s earnings down more than 50% on the Dh107m reported in 2016

Gulf News

Dubai: Amlak Finance, a Dubai-listed real estate financier, on Monday reported that profit plunged to Dh51.3 million in 2017, a huge drop from the Dh107 million reported in 2016.

In a statement to the Dubai bourse, the company did not provide details on the decline. The statement showed that revenues also slid nearly 44 per cent, down to Dh432 million in 2017 from the Dh778 million recorded a year earlier. Earnings per share fell from Dh0.071 to Dh0.027.

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