Dubai – Mubasher: Marka on Thursday posted a net loss of AED 47.59 million for the first nine months of 2018, compared to AED 198.87 million in the same period a year earlier.

Revenue shrank to AED 57.73 million in the nine-month period ended September, from AED 78.55 million in the prior-year period, according to a filing to the Dubai Financial Market (DFM).

Operating loss eased to AED 29.045 million at the end of September, versus AED 173.5 million in the corresponding period of 2017.

In the third quarter of 2018, losses grew to AED 26.74 million, versus AED 22.28 million in the year-ago period.

Additionally, revenue narrowed to AED 17.42 million in the three-month period ended September, versus AED 23.14 million in Q3-17.

It is worth noting that Marka’s loss amounted to AED 19.98 million during the first half of 2018, compared to AED 153.89 million in H1-17.

Moreover, the company suffered a net loss of AED 11.9 million during Q2-18, versus AED 125.97 million in the same quarter of 2017.