Amlak Finance announces financial results or Q1 2025
In Q1 2025, Amlak reported a net profit after income tax of AED 28 million, compared to a net profit after income tax of AED 27 million for Q1 2024, representing a 4% increase quarter on quarter.
Amlak's total revenue for Q1 2025 increased by 15% to AED 76 million as compared to AED 66 million in Q1 2024. Meanwhile, revenues from financing and investing business activities for Q1 2025 decreased by 35% to AED 22 million as compared to AED 34 million in Q1 2024.
Amlak achieved greater operational efficiency, with operating costs decreasing by 18% to AED 18 million in Q1 2025, compared to AED 22 million in the same period last year.
Further, the company also recorded lower cost of distribution to financiers of AED 14 million in Q1 2025 compared to AED 16 million in Q1 2024 on investment deposits.
The company remained committed to meeting its financial obligations, with a repayment of AED 35 million to financiers during the quarter. To date, Amlak has settled 91% of its Islamic deposit liabilities, including Mudaraba Instrument related to financiers.
Notably, Amlak successfully secured the signature of all financiers on the restated Common Terms Agreement, which governs the new terms of the company's debt restructuring. The agreement became effective on 17 March 2025. Additionally, Amlak secured shareholder approval on the sale of the company's plots located in Ras Al Khor classified under investment properties.
In the region, Amlak's investments contributed AED 3 million in income during the quarter.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Jordan Times
26 minutes ago
- Jordan Times
Electricity consumption surges 20% during heatwave, grid stability maintained — NEPCO
AMMAN — The National Electric Power Company (NEPCO) reported a record-breaking electricity demand of 4,700 MW on August 11 amid the ongoing heatwave, warning that consumption has surged to unprecedented levels. In an interview with the Jordan Times, NEPCO Assistant Managing Director for Planning and Bulk Supply Ahmad Dohni said that the demand was up 11 per cent compared with the same period in 2023, and 20 per cent higher than in 2024. These unprecedented demand levels prompted NEPCO to ramp up maintenance and emergency preparedness measures to ensure grid stability, Dohni said, adding that maintenance on generating units was strategically scheduled outside of peak demand periods, and currently, all units are fully operational, delivering approximately 4,275 MW from conventional sources. "Recent capacity enhancements have further strengthened the grid, including the acquisition of the Rehab Power Plant (250 MW) and the installation of air-cooling systems on all generating units at the Samra Power Plant, adding an additional 125 MW during the summer months," he added. NEPCO noted that the grid can also import up to 400 MW through the regional interconnection line, alongside a modest wind power contribution of less than 100 MW during peak summer periods. Looking forward, NEPCO also plans to expand capacity with a new combined-cycle power generation project and a hydropump storage facility. The company has called on relevant authorities to expedite approvals and implementation to safeguard the Kingdom's long-term energy security. In response to claims suggesting the grid might have collapsed without renewable energy during the heatwave, NEPCO clarified that wind power contributed no more than 100 MW during evening peak hours, with solar power unavailable at night and wind generation dependent on weather conditions. NEPCO also emphasised the crucial role of consumer behaviour in maintaining grid reliability. Since residential consumption accounts for the largest share of demand, the company urged citizens to reduce electricity use during peak hours and to adopt energy-saving habits, especially during extreme weather events. 'Public awareness is key,' NEPCO said, adding that 'Reducing consumption during critical hours not only helps ensure uninterrupted supply but also protects the stability of the national grid.' The heatwave is expected to continue through Thursday, with similar conditions prevailing, hot over high terrain and extremely hot in other areas, according to the Jordan Meteorological Department (JMD). The JMD has also urged the public to take necessary precautions, including avoiding direct exposure to sunlight during peak hours, exercising caution on slippery roads during rainfall, and staying alert for potential flash floods in valleys and low-lying areas, particularly in the south and east.
Al Bawaba
4 hours ago
- Al Bawaba
Ghaith Al Ghaith recognised in Forbes Middle East's Top 100 Travel and Tourism Leaders 2025
We are proud to share that Ghaith Al Ghaith, Chief Executive Officer at flydubai, has been recognised in the Forbes Middle East Top 100 Travel and Tourism Leaders 2025. This annual ranking recognises leaders whose strategic vision and achievements have made a significant impact in the industry, based on measurable business growth, innovation, leadership influence and the ability to navigate dynamic market conditions. Under Al Ghaith's leadership, flydubai has achieved its highest-ever financial results in 2024, continued to expand its growing network and fleet and made significant investments in customer experience and operational efficiency. Highlights include the opening of the new Flight Training Centre as well as the launch of a dedicated Business Class check-in area and lounge at Terminal 2, Dubai International (DXB). These developments reinforce flydubai's commitment to innovation and the enhancement of its inhouse capabilities, further supporting Dubai's position as a leading global aviation hub. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
Roya News
4 hours ago
- Roya News
AutoUnion expands into Israel, opening new avenues for regional growth
In a significant move that underscores its rapid expansion, AutoUnion Car Rentals has officially launched operations in Israel. This milestone marks the brand's entry into a new market and solidifies its reputation as one of Europe's fastest-growing car rental franchises. AutoUnion's new presence in Israel is expected to create fresh business opportunities between Israel and Jordan. Given the busy cross-border routes, such as the corridor from Aqaba to Eilat and the Sheikh Hussein Bridge in the north, the expansion is poised to enhance mobility solutions for travelers, students, and business professionals frequently moving between the two countries. Local franchisees in Jordan have expressed their enthusiasm, highlighting the mutual benefits of this expansion. They see it as an opportunity to leverage local expertise and deliver top-notch service while fostering stronger economic ties in the region. This collaborative environment is set to improve customer experiences and meet the growing demand for mobility options. As the AutoUnion brand continues to grow, both countries can look forward to a future of closer cooperation and shared success in the car rental sector. The expansion not only reflects AutoUnion's commitment to enhancing mobility but also lays the groundwork for enhanced cross-border connectivity, ultimately benefiting the economies of both Israel and Jordan. Key Takeaways: – Expansion Significance: AutoUnion's entry into Israel marks a noteworthy expansion, reinforcing its position in the car rental market. – Cross-Border Opportunities: Continuous movement of individuals between the countries creates a fertile ground for increased rental services. – Local Franchisee Enthusiasm: Jordanian franchisees are keen to collaborate and enhance service, emphasizing the region's economic potential. – Shared Future: The growth of AutoUnion is expected to foster cooperation and mutual benefits in the car rental industry across both nations. This strategic development will not only enhance operational capacities but also pave the way for a stronger partnership between Israel and Jordan in the years to come. الوسوم نسخ الرابط تم نسخ الرابط
