Emirates Refreshments in a listing on DFM set out first-half 2020 financials that would have pleased investors. The bottled water company cut down costs quite drastically. Image Credit: Gulf News Archive

Dubai: Emirates Refreshments managed to bring down its net loss during the first six months of 2020, to Dh3.39 million from Dh5.6 million a year ago.

What’s impressive about these latest numbers is that it came about despite revenues declining year-on-year. Between January to end June, sales fetched Emirates Refreshments - earlier known as Jeema Mineral Water Co. - Dh13.62 million, and that’s against Dh20.21 million in 2019 first-half.

Now, the lower losses were generated because the Dubai-based food processing company could bring down expenses quite drastically, as per a statement it issued on Dubai Financial Market. Its cost of sales was Dh7.78 million and sharply down from Dh15.5 million a year ago.

The other big plus was higher rental income – at Dh668,796 from Dh134,474. (But other income was down to Dh27,531 from Dh53,144.