ArabFinance: Maridive and Oil Services (MOIL) has reduced its losses in the full year ended December 31^st 2021, according to the company’s financial statements filed to the Egyptian Exchange (EGX).

The company has incurred a consolidated net loss excluding minority interest of $78.42 million in 2021, versus a net loss of $140.61 million in 2020.

Consolidated operating revenue amounted to $115.83 million last year, declining from $180.52 million in 2020.

Meanwhile, the company’s standalone net loss fell to $43.26 million in 2021 from $63.96 million in 2020.

Maridive Group is an Egypt-based company engaged in the provision of offshore marine and oil support services in the Middle East and North Africa Region.