Abu Dhabi – Mubasher: Finance House turned profitable in the third quarter of 2016, according to a bourse statement.
The company generated profits of AED 6.217 million ($1.69 million) in Q3-16, against losses of AED 1.579 million ($0.430 million) in Q3-15.
Net profits fell 52.1% to reach AED 37.87 million in the first nine months of 2016, compared to AED 64.65 million in the same period of 2015.
Operating expenses and allowances rose 27.3% to AED 235.21 million in the nine-month period of 2016, compared to AED 184.77 million in the prior-year period.
