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FinancialNews


  • 26-04-21

    Dubai theme park operator losses drop to USD98M

    (MENAFN)Losses in first three months for Dubai theme park operator DXBE dropped to about 360 million dirhams (USD98 million) from a fall of about 564.6 million dirhams a year earlier.

    It resulted as the entertainment sector is affected by a pandemic that hit all types of attractions worldwide.

    According to Pricewaterhouse Coopers (PwC), the company had negative operating cash flows of 49 million dirhams for the first quarter of 2021 and has net current liabilities of 92 million dirhams as at the end of the stated period.

    PwC further declared that "There is inherent estimation uncertainty in the expected future cash flows which continue to be further impacted by the effect of the COVID-19 pandemic on the operations and he financial performance of the group."

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