Dubai – Mubasher: Amlak Finance, in which Emaar Properties holds a 45% stake, posted a 2.1% year-on-year drop in net profit for the second quarter of 2018.

Net profit stood at AED 4.5 million in the three-month period ended June, compared to AED 4.6 million in the year-ago period, the company said in a filing to the Dubai Financial Market (DFM).

In the first half of 2018, net profit rose by 2% to AED 10.4 million, versus AED 10.2 million in the corresponding period of 2017.

Total revenue grew by 10% to AED 203 million in the six-month period ended June, up from AED 10.2 million in H1-17.

It is worth noting that Amlak had reported an AED 5.9 million in profits for Q1-18, compared to AED 5.6 million in the same period a year earlier.