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Al Firdous Holding losses fall in Q1

Al Firdous Holding losses fall in Q1
Direct costs fell 46.8% year-on-year to AED 2.34 million in Q1-16 (Photo Credit: Arabianeye-Reuters)
Al Firdous
ALFIRDOUS
-4.46% 0.32 -0.01

Dubai-Mubasher: Al Firdous Holding posted a 27.8% decrease year-on-year in its losses during the first quarter ended 30 June 2016, according to a bourse statement.

Net losses stood at AED 2.12 million ($577,000) in Q1-16, compared to AED 2.95 million ($803,000) in the prior-year period.

Direct costs fell 46.8% year-on-year to AED 2.34 million in Q1-16, while administrative expenses slid 21% to AED 667,500 in the same quarter of 2016.