Dubai-Mubasher: Al Safwa Islamic Financial Services said that its profits plummeted 98% to AED 19,120 ($5,200) in the fourth quarter of 2015, compared to AED 1.07 million ($291,000) in the same quarter of 2014, according to a bourse filing on Sunday.
The company posted net losses of AED 2.48 million in the fiscal year 2015, versus net profits of AED 8.55 million in the fiscal year 2014.
The company’s shares started trading on the secondary market of Dubai stock market on Thursday.
