Cairo – Mubasher: The standalone financial statements of Maridive and Oil Services showed turning to losses during the first half of 2019.
The company incurred net losses of $3.64 million during the six-month period ended 30 June, against net profits of $2.002 million in the year-ago period, according to a filing to the Egyptian Exchange (EGX) on Monday.
Meanwhile, the company’s revenues retreated to $35.9 million in H1-19 from $42.6 million in H1-18.
It is noteworthy that during the first quarter of 2019, Maridive and Oil Services reported a net loss of $3.76 million, versus a net profit of $6.99 million in the same period a year earlier, according to the company’s consolidated financial statements.
As for standalone financials, Maridive swung to losses of $1.41 million from January to March, against a profit of $1.15 million in the year-ago period, including minority shareholders’ rights.
