Dubai – Mubasher: Gulf Navigation Holding’s board of directors has approved the acquisition of four ships at a combined value of AED 420 million to transfer cattle.
The firm’s board will start sukuk issue procedures in the coming period, according to a statement to the Dubai Financial Market (DFM).
Gulf Navigation Holding last reported a loss of AED 18.2 million from in the first nine months of 2018, against posting AED 30.9 million in profits during the same period a year earlier.
Year-on-year, the firm’s profit margin fell to 24.2% during the nine-month period ended September.
