The net earnings of Amlak Finance went up by 35% on a yearly basis by the end of the first half (H1) of 2022, standing at AED 266 million, from AED 197 million.

Total income during the January-June period in 2022 dropped 9% year-on-year (YoY) to AED 319 million, compared with AED 351 million, according to a bourse statement on Wednesday.

Moreover, revenues from the financing business totalled AED 69 million during H1-22, representing a 19% YoY decline when compared to AED 85 million.

In a separate statement, the DFM-listed company announced suffering accumulated losses of AED 989 million as of H1-22, representing 66% of capital.

In the first quarter (Q1) of 2022, Amlak Finance posted net profits worth AED 13.08 million, up from AED 6.38 million in Q1-21.