Dubai – Mubasher: Marka on Wednesday posted a net loss of AED 19.98 million for the first half of 2018, compared to AED 153.89 million in the same period a year earlier.

Revenues narrowed to AED 40.3 million in the six-month period ended June, from AED 55.418 million in the prior-year period, according to a filing to the Dubai Financial Market (DFM).

Operating loss eased to AED 8.31 million at the end of June, versus AED 136.6 million in H1-17.

In the second quarter of 2018, losses fell to AED 11.9 million, versus AED 125.97 million in the corresponding period of 2017.

Meanwhile, revenues retreated to AED 19.92 million in the three-month period ended June, as compared with AED 25.48 million in revenues in Q2-17.

Operating loss declined to AED 5.75 million in Q2-18, from AED 105.9 million in the year-ago period.

It is worth noting that Marka’s net loss dropped 71% year-on-year to AED 8 million in Q1-17.

Moreover, revenue tumbled 39% to AED 20.4 million in Q1-18, versus AED 33.3 million in Q1-17.