Dubai – Mubasher: DXB Entertainment’s net loss declined to AED 207 million in the first quarter of 2018, compared to AED 291.8 million in the year-ago period.

The company’s revenue increased by 8% to AED 173.2 million in Q1-18 versus AED 159.9 million a year earlier, according to a company statement released on Wednesday.

“We implemented a new pricing and marketing strategy in September last year, which is now starting to show results. Therefore, while we saw a significant increase in visits and revenue in Q1 2018, we continue to expect further growth,” DXB Entertainments’ CEO Mohamed Almulla commented.

Operating income surged to AED 7.4 million in the three-month period ended 31 March, in comparison with AED 17,000 in Q1-17, the Dubai-listed company revealed.

“We have the support of our majority shareholder, Meraas, and our financing partners, evidenced by our new financing agreements. 2018 is our first full year of operations and we remain optimistic about our ability to deliver growth in 2018,” Almulla said.

DXB Entertainments’ general, administrative, sale, and marketing expenses dropped 23% year-on-year to AED 305.7 million from January to March.