Dubai – Mubasher: Ithmaar Holding on Thursday posted a 53.7% year-on-year drop in losses for the fourth quarter of 2018.

Net losses registered $26.71 million in Q4-18, compared to $57.67 million in Q4-17, according to the company’s statement to the Dubai Financial Market (DFM).

For the full-year 2018, the company’s losses stood at $23.98 million, against $84.711 million in 2017.

Ithmaar’s board recommended not to distribute cash dividends for 2018.

By 01:30 pm UAE time, Ithmaar’s stock fell 5.45% at AED 0.29.