Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company registered net losses valued at AED 1.68 billion in the first half (H1) of 2024, higher year-on-year (YoY) than AED 749.68 million.

Revenue grew to AED 580.32 million in H1-24 from AED 564.34 million in H1-23, while the basic loss per share increased to AED 1.68 from AED 0.75.

Total assets hit AED 7.53 billion in H1-24, compared to AED 9.08 billion as of 31 December 2023, according to the income results.

Financials for Q2

In the second quarter (Q2) of 2024, Al Seer Marine turned to net losses amounting to AED 900.88 million, against AED 38.25 million in Q2-23.

Basic loss per share hit AED 0.90 in the April-June 2024 period, versus an earnings per share (EPS) of AED 0.03 in Q2-23. Meanwhile, the revenues climbed to AED 316.10 million from AED 312.79 million.