DUBAI: Al Ramz Corporation Investment and Development has announced its third quarter ended September 30, 2019 earnings for 2019 reporting net profit of AED 3.9 million for the nine‐month period ended 30 September 2019 compared to a net profit of AED 29.8 million for corresponding period of 2018.
Al Ramz is a Dubai Financial Market (DFM) listed company which offers a variety of financial products and services including asset management, corporate finance, market making, liquidity providing, brokerage, IPO management and research.
The group attributed contraction of earnings to subdued markets and top line pressure.
Commenting on the results, Mohammad Al Mortada Al Dandashi, the Managing Director of the Group said: “the underperformance by local markets continues to exert pressure on our top line. Our plan to broaden company’s service lines, optimize our operating model and refine risk management to enhance the group’s capabilities to maintain a leading role in the financial sector.”