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Wednesday, 10 May 2017

DXB Entertainments to cut costs after posting loss | The National

DXB Entertainments to cut costs after posting loss | The National:

"The theme parks operator DXB Entertainments said on Wednesday it planned to cut operational costs by 20 per cent this year, compared with initial projections, after it missed analysts’ forecasts and posted a wider-than-expected first-quarter loss. Net loss in the three months ending March 31 reached Dh292 million, compared with a loss of Dh38m during the same period last year, when none of the three theme parks at Dubai Parks and Resorts were open, it said in a statement on the Dubai Financial Market. The Egyptian investment bank EFG Hermes had forecast a Dh110m loss for the first quarter."



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