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Amlak International for Real Estate Finance Co. announces its Interim Financial Results for the Period Ending on 2021-06-30 ( Six Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Total income from Special Commissions/Financing & Investments 70,60973,155-3.4871,966-1.885
Net Income from Special Commissions/Financing & Investments 54,37452,3403.88655,939-2.797
Total Operation Profit (Loss) 55,34252,3405.73555,943-1.074
Net Profit (Loss) before Zakat and Income Tax 30,99428,4848.81129,3985.428
Net Profit (Loss) 28,21823,80018.56325,19911.98
Total Comprehensive Income 30,15120,38847.88626,09115.56
All figures are in (Thousands) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Total income from Special Commissions/Financing & Investments 142,575148,416-3.935
Net Income from Special Commissions/Financing & Investments 110,313113,542-2.843
Total Operation Profit (Loss) 111,285113,226-1.714
Net Profit (Loss) before Zakat and Income Tax 60,39261,760-2.215
Net Profit (Loss) 53,41753,2900.238
Total Comprehensive Income 56,24242,63631.911
Total Share Holders Equity (after Deducting Minority Equity) 1,132,1871,167,913-3.058
Assets 3,506,1643,750,452-6.513
Investments 10,88911,622-6.307
Loans and Advances Portfolio (Financing & Investment) 3,288,7123,503,239-6.123
Clients' deposits ---
Profit (Loss) per Share 0.590.59
All figures are in (Thousands) Saudi Arabia, Riyals
Element ListExplanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is The company achieved a net profit of SR 28.2 Million compared to SR 23.8 Million for the same quarter during 2020, representing an increase of 18.56%.

The increase is mainly attributable to reduced Borrowing Costs coupled with reversals in Impairment Allowance for Expected Credit Losses during the current quarter.

The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is The company achieved a net profit of SR 28.2 Million compared to SR 25.2 Million for previous quarter during 2021, representing an increase of 11.98%.

The increase is mainly attributable to reduction in Zakat provision, reversals in Impairment Allowance for Expected Credit Losses and reduced G&A expenses during current quarter compared to previous quarter of the current year.

The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The net profit during current period is largely consistent with net profit during same period of last year, with an increase of 0.24% only.
Statement of the type of external auditor's report Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion None.
Reclassification of Comparison Items No comparative figures have been reclassified to be consistent with the presentation of the current period
Additional Information The Company is currently not engaged in any deposit taking activity and hence the client deposits are Nil.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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