UAE home finance leader Amlak Finance PJSC announced earlier this week a net profit of Dh115 million for the third quarter ending September 30, 2006, reflecting a 43 percent increase as compared to the corresponding period of the previous year.
During the last nine months, revenues for the Islamic finance pioneer soared to Dh290 million, reflecting a 71 per cent increase over the Dh169 million for the same period last year, according to Khaleej Times.
Earnings per share for the period ended September 30, 2006 stand at Dh0.10 compared to Dh 0.14 for the same period in the year 2005, while the company's capital at present is Dh1.5 billion, a 100 per cent increase over same period last year.
“The performance reflects the continued growth of real estate in the UAE. It also proves Amlak's diversification strategy has yielded fruitful results,” said Mohammed Ali Al Hashimi, Managing Director and Chief Executive Officer of Amlak.
“Amlak's growth plan for the third quarter of 2006 has been in line with the company's strategic vision of diversifying its portfolio by offering a range of innovative Shariah compliant products and services,” Al Hashimi added.
