Dubai - Mubasher: Unikai Foods has logged accumulated losses of AED 17.298 million as of the third quarter (Q3) of 2020, representing 53.4% of the capital.
These accumulated losses mainly occurred in 2018 due to slowdown and competitive market conditions, according to the company's disclosure to Dubai Financial Market (DFM) on Wednesday.
To tackle these losses, the company has controlled its operating expenses amid the market conditions caused by the coronavirus (COVID-19) pandemic; hence, the company was able to achieve profits of AED 4 million in the third quarter (Q3) of 2020.
It is noteworthy to mention that as of the first half (H1) of 2020, the company has incurred accumulated losses of AED 21.31 million, representing 65.8% of the company's capital.
