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Wednesday, 9 August 2017

MIDEAST STOCKS-Dubai's DXBE, Industries Qatar drop on weak Q2 in early trade

MIDEAST STOCKS-Dubai's DXBE, Industries Qatar drop on weak Q2 in early trade:

"Shares of Dubai theme park operator DXB Entertainments sank in early trade on Wednesday because of weak interim earnings, while Doha's Industries Qatar was also down after its quarterly net income missed analysts' estimates. Dubai's stock index fell 0.4 percent as DXBE fell 3.0 percent after reporting a first-half net loss of 578 million dirhams ($157 million). The company has not made a profit since it opened its first theme parks and hotels in October 2016. The company said it was reorganising its business into three units: theme parks, family entertainment centres, and retail and hospitality. It announced an agreement with local developer Meraas to manage its portfolio of leisure and entertainment offerings including Hub Zero, Splash Pad and Roxy Cinemas."



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