The company said in a statement to the Abu Dhabi market today, Monday, that the losses are mainly due to a decrease in the fair value of investments carried at fair value through profit or loss.
She stated that the company's manufacturing sector profit and net profit for the quarter improved before the decrease in value compared to last year.
According to the statement, the company's revenues during the first quarter of 2020 amounted to 128 million dirhams, compared to 153 million dirhams for the same period in 2019.
The company attributed the decrease in revenues during the comparative periods mainly due to the low selling price and sales volume.
The shareholders' equity as of March 31, 2020 amounted to 1.372 billion dirhams.
