Dubai – Mubasher: Marka’s net loss dropped 71% year-on-year to AED 8 million in the first quarter of 2018.

Revenue tumbled 39% to AED 20.4 million in Q1-18 versus AED 33.3 million in the year-ago period, according to a company statement released on Tuesday.

Other income more than doubled to AED 4.3 million in the first quarter of 2018 against AED 1.7 million in the comparative period of 2017.

General and administrative expenses dropped to AED 6.7 million in the three-month period ended 31 March, while sale and distribution expenses tumbled to AED 11 million in the same period.

Marka’s ordinary general meeting (OGM) has adopted a proposal to continue the company’s activities and deferred its decision concerning the reduction of the company’s capital.