Amlak Finance, the pioneers of home finance in the UAE, reported second quarter results highlights to the Dubai Financial Market (DFM) within one week of the quarter ending and today disclosed their full results.
The company speedily announced financial highlights results within three working days of the quarter finishing on July 4. Amlak then received their financial statements reviewed by auditors Ernst & Young within three weeks, communicating them to the DFM July 16.
• Key financials:
o 31% increase in the net profit compared to the same period last year
o 54% increase in the revenue compared to the same period last year.
o 0.14 EPS
o Net Profit AED 106 million.
With the Q2 reporting season underway, companies who wish to be seen as efficient and streamlined tend to announce their results to the stock market as soon as possible. The Emirates Securities and Commodities Authority (ESCA) issued new regulations regarding corporate governance in April this year, and timely reporting is one step along the way to good governance.
“To get our Q2 results highlights out within one week of the quarter coming to an end is a tribute to our team and our company,” said Nasser Al-Shaikh, Chairman, Amlak Finance PJSC. “This demonstrates that we are a company that places a premium on transparency and strives to achieve excellent corporate governance.”
