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Abu Dhabi’s Bildco Tumbles After Q3 Loss Widens

Abu Dhabi’s Bildco Tumbles After Q3 Loss Widens

Bildco posted a loss of Dhs10.8 million ($2.9 million) in the three months to Sept. 30, compared with a loss of Dhs7.7 million in the same period a year earlier.

Shares in Abu Dhabi-listed National Company for Building Materials (Bildco) tumbled 7.1 per cent in early trade on Tuesday after the company said its net loss widened in the third quarter.

Bildco posted a loss of Dhs10.8 million ($2.9 million) in the three months to Sept. 30, compared with a loss of Dhs7.7 million in the same period a year earlier. The firm’s sales fell 58 per cent and it also booked provisions for doubtful debts and securities impairments.

Abu Dhabi’s main stock index was down 0.4 per cent.

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