Dubai – Mubasher: DXB Entertainments posted a 180% rise year-on-year in its losses during the third quarter of 2016, according to a bourse statement.
Losses reached AED 103.58 million ($28.2 million) in Q3-16, compared to AED 36.99 million ($10.07 million) in Q3-15.
Sales and marketing expenses increased 614% year-on-year to AED 38.27 million in Q3-16. In addition, administrative expenses reached AED 87.11 million, up 190% year-on-year.
In the first nine months of 2016, losses widened by 263.3% to AED 238.19 million as compared to AED 65.57 million incurred in the same period of 2015.
