UAE: Al Ramz posts drop in 2022 profits to $8.85mln

During January-December 2022, the net finance income plummeted to $8 million

Staff Writer, Mubasher

February 28, 2023

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Al Ramz Corporation Investment and Development witnessed lower net profits at AED 32.49 million in 2022, versus AED 54.51 million a year earlier.

During January-December 2022, the net finance income plummeted to AED 29.38 million from AED 22.05 million in 2021, according to the financial results.

Basic and diluted earnings per share (EPS) reached AED 0.06 in 2022, versus AED 0.10 as of 31 December 2021.

The total assets amounted to AED 986.37 million in the 12-month period that ended on 31 December 2022, an annual plunge from AED 1.04 billion.

In the first nine months (9M) of 2022, the DFM-listed company recorded net profits worth AED 28.64 million, compared to AED 27.57 million in the year-ago period.

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