Cairo – Mubasher: The consolidated financial statements of Maridive and Oil Services reported a turn to losses during the first nine months of 2019. 

The company incurred net losses of $22.22 million during the nine-month period ended 30 September, against net profits of $18.28 million in the year-ago period, including minority shareholders’ rights, according to a statement to the Egyptian Exchange (EGX) on Sunday.

Meanwhile, revenues shrank to $105.5 million in the January-September period, compared to $156.3 million in the corresponding period of 2018.

It is noteworthy that standalone financials showed net losses of $9.55 million in the first nine months of last year, versus net profits of $1.04 million in the prior-year period.