Dubai-Mubasher: Al Ramz Corporation Investment and Development deepened its losses to AED 755,750 ($205,700) in the second quarter of 2016 from AED 21,090 ($5,700) in the same period of the previous year.
The company’s losses were derived from administrative expenses which surged 379.7% to AED 249,380 in Q2, adding to incurring AED 202,400 investment losses at fair value, which contributed to Q2 losses, according to a bourse filing on Tuesday.
The UAE-listed company widened its losses to AED 1.13 million in the six-month period of 2016 compared to AED 36,140 in the year ago period.
