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Amlak records Q2 net loss
- United Arab Emirates: Monday, August 31 - 2009 at 09:04
Amlak Finance, the UAE mortgage lender, posted a second-quarter net loss excluding minority interests of Dhs65.6m ($17.9m), compared with a profit of Dhs143m a year earlier, Bloomberg has reported. Revenue had declined to Dhs191m from Dhs346m as the company made impairment provisions of Dhs67m. Income from financing and investments had dropped to Dhs169m from Dhs204m, the company has said.
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