Dubai Investments' stock price drops sharply as company announces earnings retreat | ZAWYA MENA Edition:
Shares in Dubai Investments (DIC) fell sharply on Sunday as the company announced a drop in fourth quarter (Q4) earnings for 2018.
DIC recorded a net loss of 72.9 million UAE dirhams ($19.8 million) for Q4 2018, compared to a net profit of 171.3 million UAE dirhams for Q4 2017, translating into a 142.6 percent drop.
“The company’s preliminary results were somewhat expected and yet not as bad as the public has received them so far,” Issam Kassabieh, senior financial analyst at Menacorp Financial Services, told Zawya by email.
No comments:
Post a Comment