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Al Firdous Holding H1 losses deepen 75%

Al Firdous Holding H1 losses deepen 75%
Photo credit: Arabianeye - Reuters
Al Firdous
ALFIRDOUS
-2.98% 0.33 -0.01

Dubai-Mubasher: Al Firdous Holding reported a 75% surge in losses for the first half ended 30 September, 2015, compared to the same period last year.

The company’s financial statements showed a net loss of AED 6.54 million ($1.78 million) in H1-15, compared with AED 3.74 million ($1.02 million) suffered in the same period year ago.

The Dubai listed company deepened its losses in the second quarter of the same fiscal year by 13.55% to AED 3.6 million, from AED 3.16 million in the same period of 2014.

Al Firdous earlier posted a net loss of AED 2.3 million ($626 million) in the first quarter ended 30 June, compared to AED 582,800 ($158,700).