Dubai – Mubasher: Amlak Finance’s net profit declined to AED 4 million during the first half of 2019, compared to AED 11 million, a year earlier.

The Dubai-listed company reported a 6% year-on-year increase in revenue during the first six months of 2019, recording AED 215 million.

Revenues from financing business activities grew by 2% to AED 87 million in H1-2019, compared to AED 85 million during the year-ago period, according to a company statement released on Wednesday.

Operating costs declined by 3% to AED 59 million from January 2019 to the end of June, against AED 61 million in H1-18.

“Despite market headwinds, Amlak performed positively in the first half of 2019, confirming our strategy to help grow the business and add value to our shareholders,” managing director & CEO of Amlak, Arif Abdulla Alharmi Albastaki, said.

Amlak Finance recorded a net profit of AED 2 million in the first quarter of 2019, down from AED 7 million in Q1-18.