Ithmaar’s board to meet on May 14 to discuss results

Dubai: Ithmaar said on Thursday it’s board will meet on May 14 to discuss and approve the company’s first quarter results.

“This is in order to review and approve financial statements for the quarter ending March 2018,” the company said in a statement posted on Dubai Financial Market’s website.

Ithmaar reported a net loss of $72.40 million (Dh266 million) in 2017 compared to net profit of $13.80 million in 2016. Ithmaar reported a five per cent fall in total income to $392.46 million compared to $413.17 million in the year-before period mainly due to unrealised foreign exchange losses.