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Finance House incurs AED 595,000 net loss in Q1-20

Finance House incurs AED 595,000 net loss in Q1-20
The company's net operating income reduced to AED 52.776m
Finance House
FH
4.61% 1.59 0.07

Abu Dhabi – Mubasher: Finance House logged AED 595,000 net losses attributable to the equity holders of the parent company during the first quarter (Q1) of 2020, against net profits of AED 12.622 million during the year-ago period.

The company's net operating income reduced to AED 52.776 million in the first three months of 2020 from AED 69.088 million in the same period of 2019, according to the company's consolidated interim financial statements for the period ended on 31 March 2020.

The basic and diluted loss per share stood at AED 0.02 in the Q1 of 2020, compared to AED 0.02 earnings per share (EPS) in the corresponding quarter of 2019.

In 2019, the company's net profits reached AED 22.445 million, up from AED 17.840 million in 2018.