Abu Dhabi-Mubasher: Eshraq Properties posted a 35.3% fall year-on-year in its profits during the second quarter of 2016, according to a bourse statement.
Net profits reached AED 1.58 million ($430,000) in Q2-16, compared to AED 2.44 million ($664,000) in the prior-year period.
Operating losses rose 670.4% to AED 6.14 million in Q2-16, compared to AED 796,990 in Q2-15. In addition, revenues stood at AED 4.13 million in Q2-16, a 16.4% decrease from AED 4.94 million in Q2-15.
The company trimmed its losses by 2.5% to reach AED 5.4 million in H1-16, compared to AED 5.54 million in H1-15.
In H1-16, operating losses went down 21.5% to AED 7.58 million from AED 9.64 million in H1-15.
