Dubai - Mubasher: Gulf General Investment (GGICO) lost AED 46.36 million ($12.62 million) in the third quarter of 2016, higher 9.7% year-on-year from AED 51.32 million ($13.97 million), according to a bourse filing on Monday.
Sales and distribution expenses rose 175% to AED 2.4 million in the third quarter, compared with AED 873,000 for the year-ago period.
In the first nine months, net losses shrank 8% year-on-year to AED 32.46 million from AED 35.27 million.
