Cairo - Mubasher: Maridive and Oil Services reported a growth in profits in the first quarter of 2017 by 31.5% year-on-year, as shown by the company’s financial statements.
The company said in a statement to the Egyptian Exchange (EGX) on Wednesday that net profits totalled $2.12 million in the three-month period that ended on 31 March 2017, compared to $1.61 million in Q1-16.
This comes despite a 25% decline in revenues from $27.32 million in Q1-16 to $20.55 million in Q1-17, due to the high competitiveness in the marine and oil services sector.
