Dubai – Mubasher: The net profits of Al Ramz Corporation Investment and Development stood at AED 13.73 million during the first half (H1) of 2023, an annual decrease from AED 22.18 million.

Total revenues contracted to AED 53.20 million in H1-23, compared to AED 56.30 million a year earlier, according to the consolidated interim income statements.

In the first six months (6M) of 2023, the basic and diluted earnings per share (EPS) hit AED 0.02, versus AED 0.04 as of 30 June 2022.

Financial Results for Q2-23

The company’s net profits shrank to AED 6.41 million during the second quarter (Q2) of 2023 from AED 13.58 million in Q1-22, while the basic and diluted EPS plummeted to AED 0.01 from AED 0.02.

Last year, Al Ramz logged net profits valued at AED 32.49 million, lower than AED 54.51 million in the 12-month period that ended on 31 December 2022.