Amlak Finance suffers AED 64m losses in Q3

Dubai – Muabasher: Amlak Finance, listed on the Dubai Financial Market, on Thursday reported a net loss of AED 64 million during the third quarter of 2018, against AED 11.8 million in net profit in the prior-year period.

Amlak attributed its Q3 losses to AED 24.7 million in losses from the fair value of investment properties versus profits of AED 23.9 million during the same period of 2017.

Moreover, Amlak’s impairment losses from Islamic financing and investing assets amounted to AED 42.2 million, it said in a bourse filing.

During the period between January and September 2018, the DFM-listed company incurred losses of AED 53.6 million, compared to AED 22 million during the corresponding period last year.

Mubasher Contribution Time: 08-Nov-2018 15:12 (GMT)
Mubasher Last Update Time: 08-Nov-2018 15:12 (GMT)

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