Abu Dhabi – Mubasher: Finance House, listed on the Abu Dhabi Securities Market (ADX), on Wednesday reported a 37% year-on-year drop in its net profit for the first half of 2018.

Net profit amounted to AED 20.4 million in the six-month period ended June, versus AED 32.2 million in the prior-year period, the company added in a statement.

In the second quarter of 2018, the company’s net profits narrowed 77.14% to AED 1.6 million, compared to AED 7 million in Q2-17.

Finance House previously posted a 15% year-on-year fall in profits for the full-year ended 2017, recording AED 34.3 million ($9.34 million), versus AED 40.3 million ($10.97 million).