Abu Dhabi’s TDIC Narrows 2013 Loss On Higher Revenues

The company made a net loss of Dhs1.13 billion ($307.7 million) in 2013 compared to a loss of Dhs2.15 billion in the prior year.



TDIC is building the Louvre Abu Dhabi museum.

Abu Dhabi’s Tourism Development & Investment Company (TDIC), which is building branches of the Louvre and Guggenheim in the emirate, narrowed its losses in 2013 as revenue rose.

The wholly state-owned company made a net loss of Dhs1.13 billion ($307.7 million) in 2013 compared to a loss of Dhs2.15 billion in the prior year, a bourse filing in London, where TDIC has debt instruments listed, said on Tuesday.

Its revenue for 2013 increased to Dhs3.58 billion from Dhs1.27 billion in the previous year, it added.