Dubai – Mubasher: DXB Entertainments registered a jump of 593.7% in losses during the second quarter of 2017 compared to the same period a year ago.
Losses increased to AED 286.15 million ($77.88 million) in Q2-17 from AED 41.25 million ($11.22 million) in Q2-16, according to a bourse filing to the Dubai Financial Market (DFM) on Wednesday.
Operating, general, and administrative expenses grew by 473% to AED 284.4 million in Q2-17 from AED 49.66 million in Q2-16.
Sales and marketing expenses surged by 501% to total AED 37.56 million in Q2-17 from AED 6.25 million in Q2-16, the statement added.
DXB Entertainments’ other expenses registered AED 11.19 million in Q2-17.
During the first six months of 2017, the company’s losses deepened by 626% to AED 577.92 million from AED 79.60 million in H1-16.
In the first quarter this year, DXB Entertainments’ losses increased by 661% to AED 291.8 million compared to AED 38.35 million in Q1-16.
