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Amlak Finance earns Dh30m in 9 months
DUBAI - Amlak Finance PJSC, property finance pioneer and innovator in Islamic finance, yesterday announced a record net profit of Dh30.032 million for the nine month period ending September 30, 2004.
Revenue was up 205 per cent on the same period last year to Dh51.5 million, while earnings per share is forecast at Dh0.06 based on a par value of Dh1 per share.
Commenting on the company's performance, Mohammed Ali Al Hashimi, chief executive officer, Amlak Finance PJSC said: “Our results are testament to the growing strength and maturity of Amlak, not just in the area of home finance, but also corporate and institutional Islamic finance. We wish to emphasise our continued commitment to transparency and disclosure with the timely submission of our results.”
Meanwhile, the company continues to consolidate its position as home finance pioneer, having extended more than Dh2.3 billion in home finance to date. The forthcoming Dh500 million Amlak Sukuk to be arranged by HSBC Amanah, will further support its growing mortgage portfolio.
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