Emaar Economic City announced its financial highlioghts for 2Q18. Revenue came in at SAR244mn (+9.4% Y-o-Y, -13% Q-o-Q), gross profit at SAR105mn (-23.4% Y-o-Y, +8.3% Q-o-Q), operating loss at SAR50mn (2Q17: operating profit of SAR24mn, 1Q18: operating loss of SAR22mn) and net loss at SAR45mn (2Q17: net profit of SAR35mn, 1Q18: SAR3mn). In 1H18, revenue totalled SAR525mn (-3.1% Y-o-Y), gross profit SAR201mn (-20.6% Y-o-Y), operating loss SAR72mn (1H17: SAR2mn) and net loss SAR42mn (1H17: net profit of SAR16mn). The company attributed the losses to lower sales of industrial land plots, as well as higher depreciation, marketing and administration expenses and lower income from investments in associates.