Dubai – Mubasher: Al Ramz Corporation Investment and Development reported a 13% year-on-year drop in net profit for the first nine months of 2018.

Net profit fell to AED 29.8 million during the January-September period of this year, versus AED 34.17 million in the prior-year period, Al Ramz Corporation said in a statement.

Profits amounted to AED 4.32 million during the third quarter of this year, down from AED 12.46 million in Q3-17.

Earnings per Share (EPS) stood at AED 0.008 in Q3-18, compared to AED 0.023 in the same period a year ago.

The company’s total assets grew by 9% to AED 1.3 billion in the nine-month period ended September, according to a statement.

Al Ramz Corporation previously announced that a 90% quarter‐on‐quarter increase in its profit during the second quarter of 2018, registering AED 12.2 million.

The company’s profit rose 15% year-on-year to AED 24.97 million in the first six months of the year, according to a bourse statement.

Al Ramz’s assets also grew 12% year-to-date (YTD), registering AED 1.38 billion at the end of June.