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TDIC narrows loss on higher revenues

Abu Dhabi, June 3, 2014

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 Dh1.13 billion ($307.7 million) in 2013 compared to a loss of Dh2.15 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 Dh3.58 billion from Dh1.27 billion in the previous year, it added. - Reuters




Tags: abu dhabi | tourism | TDIC |

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