Maridive reports consolidated loss of USD 22.2 mn for 9M2019

EARNINGS WATCH- Maridive & Oil Services reported a consolidated net loss of USD 22.2 mn in 9M2019, compared to a USD 18.3 mn profit during the same period the previous year, according to an EGX disclosure (pdf). ٌRevenues fell 33% y-o-y to USD 105.5 mn during the first nine months of 2019, down from USD 156.3 mn the year before. The company attributed the losses to the US sanctions on Venezuela and delays in marine constructions contracts that they only began implementing near the end of 3Q2019.