Disastrous Q3 figures
Q3 sales dropped 23.7%, from AED2.1Bn in 2014 to AED1.6Bn in 2015. For the three last months, losses amounted to AED944.8M. Year to date, sales are worth AED5.2B, i.e. an 11.2% decline, and the losses rose to AED1.9Bn. The company reversed AED379M of previously recognized claims in Q3. The short term debts increased 53.2%. The backlog is of AED18.7Bn till September, 2015.
AlphaMena is the MENA stocks leader in independent equity research, covering 142. MENA securities spanning across 19 sectors and 8 countries relaying on a team of 11 analysts. The breadth of coverage allows AlphaMena to formulate a coherent view on markets, sectors and to highlight the best investments in Mena zone using a robust homogeneous and transparent methodology, enabling pure and pertinent comparisons based on financial and extra-financial criteria.
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