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ABU DHABI – Mubasher: Waha Capital's losses in the first and second quarters of 2019 were compared to the net earnings for the same period of 2018.
According to the results of the company, the losses recorded during this period amounted to about 182.2 million dirhams, against a profit of 239.7 million dirhams in the first half of last year.
According to the half-yearly results of the company, its loss for the period was due to five factors:
– The share of the results of badociates and joint ventures decreased by 36% to AED 178.9 million, compared to AED 281.1 million in the first half of 2018.
– Provision for depreciation of badociates and joint ventures of AED 209.4 million, compared with AED 143.7 million for the same period last year.
– The Company recorded a loss related to badociates and joint ventures excluded of AED 153.6 million, compared to a profit of AED 25 million for the same period last year.
Financial expenses increased by 35% to AED 99.4 million, compared with AED 73.4 million in the first half of 2018.
– During the first half of 2018, the Company realized non-recurring gains related to the sale of an badet clbadified as held for sale for a period of $ 92.1 million. course.
According to the company's results, losses were estimated at 124.4 million dirhams at the end of the second quarter of this year, against a profit of 132.4 million dirhams at the end of the second quarter of the year. last year.
Previously, the company's financial results showed its revenue in the first quarter of 2019 against a profit recorded by the company for the comparative period of last year..
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