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Maridive's pre-tax loss balloons 230% in 9M

Maridive's pre-tax loss balloons 230% in 9M
The company generated $33.97 million in revenue
Maridive
MOIL
-2.15% 0.23 -0.01

Cairo – Mubasher: Maridive and Oil Services reported pre-tax losses of $31.57 million in the first nine months of 2020, up by 230.58% year-on-year (YoY) from $9.55 million, the unaudited standalone financial results showed.

The company generated $33.97 million in revenue in the January-September period, down from $47.9 million in the year-ago period, according to a bourse disclosure on Monday.

During the first half (H1) of 2020, Maridive incurred net losses of $48.62 million, compared to $4.51 million in H1-19, including minority shareholders’ rights.