Abu Dhabi – Mubasher: Finance House registered a decrease of 33% in net profits during the first three months of 2019 compared to the same period last year.
The company’s net profit shrank to AED 12.6 million in Q1-19 from AED 18.8 million in Q1-18, according to a disclosure on the Abu Dhabi Securities Exchange (ADX) on Thursday.
Net operating revenues by Finance House fell by 5% to AED 69.7 million in Q1-19 compared to AED 73.5 million in Q1-18.
The company’s general and administrative expenses grew by 17% to AED 17.2 million in Q1-18 from AED 14.7 million in the same three months a year ago.
