By: Mahmoud Gamal

Dubai – Mubasher: DXB Entertainments’ stock declined to its lowest level since August 2015, amid increased expectations of posting higher losses by the end of this year.

The company’s stock dropped 2.7% to AED 0.785 by 1:40 pm UAE time, generating AED 12.74 million from the exchange of 16.11 million shares through 230 transactions.

The company is expected to incur losses of $1.1 billion by the end of this year as its theme park is seen to have no economic feasibility, capital market analyst Doaa Farouk told Mubasher.

The company saw losses of AED 291.8 million during the first quarter of 2017, up 661% from AED 38.35 million in the same quarter of 2016.

DXB Entertainments is suffering from higher costs, Farouk explained.

Translated by: Julian Nabil