Dubai – Mubasher: Gulf General Investment Company (GGICO) posted on Monday a net loss of AED 44.63 million ($12.15 million) for the first quarter of fiscal year 2017, against a net profit of AED 8.05 million ($2.19 million) for Q1-16.
Revenues for Q1-17 declined to AED 147.89 million from AED 213.57 million for Q1-16, according to a statement to the bourse.
The company had earlier reported a net loss of AED 47.81 million for FY16.
By 09:57 am UAE time, the company’s stock dropped 0.97% to AED 0.410 as 326,000 shares were exchanged at AED 133,490.
