Maridive slashes consolidated losses in Q1
Updated 7/17/2022 9:32:00 AM
Arab Finance: Maridive and Oil Services (MOIL) has reported a 46% year-on-year (YoY) decline in consolidated net loss after tax during the first quarter (Q1) of 2022, according to the financial indicators filed to the Egyptian Exchange (EGX) on July 17th.
The company’s consolidated net loss after tax dropped to $10.713 million in Q1 2022 from $19.813 million in Q1 2021.
Revenues hit $20.591 million in the three-month period ended March 31st, down 45% YoY from the year-ago period.
It is worth noting that the company’s standalone net loss after tax dropped to $5.133 million in Q1 2022 from $9.263 million in Q1 2021.
Maridive Group is an Egypt-based company engaged in the provision of offshore marine and oil support services in the Middle East and North Africa Region.
