Cairo – Mubasher: Maridive and Oil Services announced succumbing into losses during the first quarter of 2019, according to the company’s standalone financial statements.
The company suffered losses of $1.41 million from January to March, versus a profit of $1.15 million in the year-ago period, including minority shareholders rights, according to a statement to the Egyptian Exchange (EGX) on Tuesday.
The company’s revenues retreated to $18.12 million in the three-month period ended 31 March from $2 million in the corresponding period a year earlier.
For the full-year 2018, Maridive logged a net profit of $14.002 million, compared to $23.49 million in the previous year, including minority shareholders’ rights.
Revenues slid to $208.17 million last year from $238.8 million in 2017.
Meanwhile, standalone profits reached $2.15 million in 2018, compared to $5.7 million a year earlier.
