Dubai – Mubasher: Al Ramz Corporation Investment and Development reported a net profit of AED 3.9 million during the period from January to September 2019, down from AED 29.8 million in the same nine-month period a year earlier.

The contraction in earnings was ascribed to “subdued markets and top line pressures”, the firm disclosed on Thursday.

In this regard, the group’s managing director, Mohammad Al Mortada Al Dandashi,  said: “The underperformance by local markets continues to exert pressure on our top line. Our plan is to broaden the company’s service lines, optimize our operating model, and refine risk management to enhance the group’s capabilities to maintain a leading role in the financial sector.”