Dubai – Mubasher: Gulf Navigation Holding on Wednesday reported a 7% increase in gross profits for the full-year 2017, registering AED 49 million, compared to AED 45.8 million a year earlier.
The UAE-based company has increased the value of its assets by 12% to AED 1,076 billion in the last four quarters against AED 959 million in 2016, according to a company statement.
“We are proud to be a success story because we are the first and the only shipping company listed in the Dubai Financial Market (DFM) and we are committed to contributing to the national economy diversification,” Gulf Navigation Holding Group’s CEO Khamis Juma Buamim commented.
The DFM-listed firm’s operating expenses decreased by AED 5.5 million last year by means of internal restructuring, Gulf Navigation's data showed.
“We would like to extend our appreciation to TABARAK Investment and major shareholders for their trust in our ability to achieve more success,” Buamim added.
