Dubai – Mubasher: AI Safwa Mubasher Financial Services achieved a 25% year-on-year growth in income in the first six months of 2017, according to a bourse statement.
Total income reached AED 13.35 million in H1-17, compared to AED 10.7 million in H1-16.
Commission income went up 9.5% to AED 11.22 million in H1-17, compared to AED 10.25 million in H1-16. The company’s income from margin trading stood at AED 1.9 million in H1-17.
In the first half of 2017, losses reached AED 5.05 million compared to AED 2.5 million in the prior-year period.
However, the company turned profitable in the second quarter of 2017 after achieving AED 3.60 million ($0.98 million) in profits, against losses of AED 45,000 ($12,248) in the prior-year period.
General and administrative expenses (G&A) went up 104.08% to AED 7 million in Q2-17, compared to AED 3.43 million in Q2-16.
