DXB Entertainment's stock drops as theme park owner announces earnings loss | ZAWYA MENA Edition:
Shares of DXB Entertainments (DXBE) dropped on Monday, after the company announced prelimnary results showing a net loss of one billion dirhams for 2018, which was 11 percent lower than the 1.12 billion dirhams loss declared for 2017.
The company recorded a fourth quarter (Q4) 2018 net loss of 268 million dirhams, a 5.1 percent year-on-year increase on the net loss of 255 million dirhams for Q4 2017.
“(The) company continues to struggle with achieving meaningful growth in park arrivals, as well as visitor spending,’ Ayub Ansari, senior analyst at Bahrain-based bank SICO told Zawya by email.
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