Riyadh – Mubasher: Amlak International Finance Company recorded a 2.95% year-on-year (YoY) decline in net profit to SAR 16.83 million in the first half (H1) of 2024, compared to SAR 17.35 million.

Earnings per share (EPS) amounted to SAR 0.17 as of 30 June 2024, according to the interim financials.

The higher profits were mainly driven by an increase in income from special commission of financing, partially offset by a growth in finance cost and a surge in operating expenses.

Total assets hiked by 16.66% to SAR 4.14 billion in H1-24 from SAR 3.55 billion in H1-23, while the investments remained unchanged at SAR 893,000.

Financials for Q2-24

In the second quarter (Q2) of 2024, the company's net profits reached SAR 8.23 million, an annual increase of 30.41% from SAR 6.31 million.

Quarterly, the Q2-24 net profits fell by 4.33% from SAR 8.60 million in the January-March 2023 period.