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Emirates Refreshments’ profits drop 38% in H1

Emirates Refreshments’ profits drop 38% in H1
Photo Credit: Arabianeye-Reuters
ERC
ERC
-1.07% 2.76 -0.03

 

Dubai – Mubasher: Emirates Refreshments Co. (ERC) posted on Wednesday a net profit of AED 284,680 ($77,500) in the first six months of 2015, registering a sharp decline of 38.34% from AED 461,700 (%125,700) in H1-14, according to a filing to the Dubai Financial Market (DFM).

Second quarter profits leaped 204.4% year-on-year to AED 2.75 million, compared to AED 902,000 in Q2-14.

The beverage company previously reported widening losses by 459% to AED 2.46 million ($670,000) in Q1-15, compared to AED 440,360 ($120,000) in the same period in 2014.