Dubai – Mubasher: The net losses of DXB Entertainments increased to AED 1.06 billion in the first nine months of 2020 from AED 716.52 million in the corresponding period of 2019.
The company's revenues plunged to AED 108.74 million in the January-September period of 2020 from AED 329.67 million in the year-ago period, according to the company's consolidated interim financials for the period ended on 30 September 2020.
In addition, the company's adjusted earnings before interest, tax, depreciation, and amortisation (adjusted EBITDA) declined by 25% to AED 113.79 million during the first nine months of 2020 from AED 151.16 million in the corresponding period of 2019.
The basic and diluted loss per share settled at AED 0.133 in the January-September period of 2020, against AED 0.09 in the same period of the earlier year.
Meanwhile, the company logged accumulated losses of AED 6.2 billion as of the period ended on 30 September 2020, representing 78% of the capital.
It is noteworthy to mention that in the first half (H1) of 2020, the company's net losses hiked by 83.47% to AED 822.5 million from AED 448.3 million in the same half of 2019.
