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FINANCIAL NEWS
UAE’s Eshraq’s full-year losses exceed USD326K
22 Feb 2012
(MENAFN) Eshraq Properties said that full-year losses reached USD326,643 due to weak property sales, reported The National.
The company, which was listed on the Abu Dhabi Securities Exchange (ADX) in September, added that losses in the final quarter reached USD89,690.
The developer also said that since its listing, the firm didn’t make any revenues; moreover, it recorded no revenue from property deliveries since July, when it converted into a public joint stock firm.
It is worth noting that Eshraq also encountered losses during each quarter since its listing.
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