Riyadh – Mubasher: Emaar The Economic City incurred a loss of SAR 19 million in the first quarter of 2017, compared with SAR 14 million in the same period of 2016; a year-on-year increase of 35.7%.
The Saudi firm’s overall revenues grew by 17% to SAR 318 million in Q1-17 from SAR 272 million in Q1-116, according to a bourse statement issued on Thursday.
Emaar noted that the higher losses in Q1 resulted from higher consumption and lower other revenues.
At the stock level, Emaar closed Thursday’s session 3.3% lower at SAR 15.90.
