Dubai – Mubasher: Al Safwa Financial Services posted an increase of 26.1% in losses during the third quarter of 2016 as compared to the same period a year ago.
Net losses grew to AED 1.45 million ($394,800) in Q3-16 from AED 1.15 million ($313,100) in Q3-15, according to a bourse statement to DFM.
Overall revenues decreased 39.6% to about AED 627,720 in Q3-16 from AED 1.04 million in Q3-15.
During the nine-month period, losses increased 91.2% to AED 4.78 million as compared with AED 2.50 million in the corresponding period of 2015.
