Abu Dhabi's TDIC narrows losses in 2013 as revenue grows

Tourism Development & Investment Company says it made a net loss of nearly $308m last year
Abu Dhabi's TDIC narrows losses in 2013 as revenue grows
Construction of the Louvre Abu Dhabi continues.
By Reuters
Mon 02 Jun 2014 07:44 PM

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 AED1.13 billion ($307.7 million) in 2013 compared to a loss of AED2.15 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 AED3.58 billion from AED1.27 billion in the previous year, it added.

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