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DXB Entertainments records AED 252m revenue in H1

DXB Entertainments records AED 252m revenue in H1
EBITDA loss for H1-19 remained unchanged at AED 81 million
DXB Entertainments
DXBE
1.28% 0.08 0.00

Dubai – Mubasher: DXB Entertainments, listed on the Dubai Financial Market (DFM), reported AED 252 million in revenue for the first half of 2019, compared to AED 289 million in H1-18.

The company has trimmed its net loss by 4% in H1-19, reaching AED 448 million, compared to AED 469 million in H1-18, according to a press release.

EBITDA loss for H1-19 remained unchanged at AED 81 million as compared to the same period last year.

Meanwhile, operating cost fell to AED 309 million during the six-month period ended 30 June from AED 361 million in H1-18.

Lapita Hotel has seen 1.40 million visits during the first six months of 2019 with an occupancy rate at 63%.

In the second quarter of 2019, the company has incurred AED 233 million in loss, versus AED 259 million in Q2-18.

Theme park revenue amounted to AED 70 million during the April-June period of 2019, with a revenue per capita of AED 110.

Hospitality revenue stood at AED 19 million in Q2-19 at an average daily rate of AED 541.

In Q1-19, DXB Entertainments had recorded revenue of AED 142 million, down 18% year-on-year from AED 173 million.

Average hotel occupancy at Lapita Hotel during Q1-19 was at 72%, versus 62% in the year-ago period.