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Apex Investment shifts to losses in Q1-23 unaudited results

Apex Investment shifts to losses in Q1-23 unaudited results
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Apex Investment
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4.08% 1.53 0.06

Abu Dhabi – Mubasher: Apex Investment Company turned to net losses worth AED 190.18 million in the first quarter (Q1) of 2023, against net profits valued at AED 49.45 million in Q1-22.

Revenues hit AED 147.73 million as of 31 March 2023, an annual plunge from AED 163.52 million, according to the initial financial results.

The basic loss per share stood at AED 0.05 during the first three months (3M) of 2023, versus earnings per share (EPS) worth AED 0.01 in the year-ago period.

Meanwhile, the ADX-listed firm reported total assets amounting to AED 1.98 billion in Q1-23, lower than AED 2.26 billion as of 31 December 2022.

Last year, Apex Investment recorded a leap in net profit to AED 187.19 million from AED 2.98 million in 2021.