Page 38 - AAE PR REPORT - August 2024

8/12/24, 10:42 AM Al Ansari Financial Services reveals lower profits for first half of 2024
operating income, rising by 0.5 percent to 292.3 million dirhams (approximately USD80
million), up from 291 million dirhams in the corresponding quarter of the previous year.

Despite this slight improvement in operating income, the company's net profits for Q2 declined
by 18 percent, totaling 107 million dirhams (about USD29 million) compared to 130 million

dirhams in the same quarter of 2023.

The mixed results reflect ongoing challenges in maintaining profitability amidst economic
pressures. While there was a minor increase in operating income in the second quarter, it was

not sufficient to counterbalance the overall decline in net profits. The company's financial
performance highlights the impact of broader economic factors on its earnings, indicating a
need for strategic adjustments to address profitability challenges in the current economic

climate.

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