Page 24 - AAE PR REPORT - February 2024

Al Ansari Financial Services’ net profit dips 16%

YoY in 2023

15 February 2024 04:56 PM
ALANSARI
ALANSARI
0.00%1.060.00

Dubai – Mubasher: Al Ansari Financial Services has recorded a 15.70% year-on-year (YoY) decline in
net profit to AED 495.18 million in 2023 from AED 587.65 million.

The company’s operating income inched lower by 1.90% YoY to AED 1.13 billion last year from AED
1.15 billion, according to a press release.

The earnings per share (EPS) also dropped by 15.80% to AED 0.06 in the 12-month period that ended
on 31 December 2023 from AED 0.07 a year earlier.

Fourth Quarter Results

During the fourth quarter (Q4) of 2023, Al Ansari Financial Services’ net profit tumbled by 32.80% YoY
to AED 107.38 million from AED 159.73 million.

Operating income reached AED 268.78 million in Q4-23, down 11.40% YoY from AED 303.51 million.

Cash Dividends

Al Ansari’s board of directors recommended the distribution of AED 300 million in cash dividends for
the second half (H2) of 2023, or AED 0.04 per share, representing 400% of the company’s AED 75
million capital.

Thus, the total dividends for the whole year will amount to AED 600 million, which implies a dividend
yield of 7.55% based on the closing price of AED 1.06 per share on 31 December 2023.

https://english.mubasher.info/news/4248177/Al-Ansari-Financial-Services-net-profit-dips-16-YoY-in-
2023/