Abu Dhabi-Mubasher: Eshraq Properties reported a 86% decline in its first-quarter losses, according to a bourse statement.
Net losses reached AED 1 million ($273,000) in Q1-16, compared to AED 7.2 million ($1.9 million) in Q1-15.
Sales costs declined 30% to AED 2.96 million in Q1-16, compared to AED 4.23 million in Q1-15.
Total revenues reached AED 6.2 million ($1.69 million), a rise of 9.7% from AED 6.92 million ($1.88 million).
Loss on termination of sale agreements reached AED 7.8 million ($2.12 million) in Q1-15.
Eshraq stabilised at AED 0.78 after generating AED 2.24 million from the exchange of 2.89 million shares.
