Dubai – Mubasher: Gulf Navigation Holding reported a 27.1% year-on-year rise in its profits during the second quarter of 2017, according to a bourse statement.
Net profits reached AED 10.19 million ($2.8 million) in Q2-17, compared to AED 8.02 billion ($2.2 million) in Q2-16.
In the first half of 2017, profits grew 32.5% to AED 19.03 million from AED 14.36 million in the same period of 2016.
Operating revenues fell 10% to AED 60.36 million in H1-17 from AED 67.12 million in H1-16.
Operating expenses also went down 8.2% to AED 19.20 million in Q2-17 from AED 20.91 million in Q2-16.
