Abu Dhabi - Mubasher: The financial statements of National Marine Dredging Company showed a decline in profits in the fourth quarter of 2016 by 89.9% compared to the same period in the year before.
Profits totalled AED 5.87 million ($1.6 million) in Q4-16 compared to AED 58 million ($15.8 million) in Q4-15, according to the company’s statement to the Abu Dhabi Securities Exchange (ADX) on Tuesday.
Annual profits dropped 69.7% in 2016 to AED 46.01 million from to AED 151.8 million in 2015.
According to the statement, revenues decreased by 46.7% and amounted to AED 1.22 billion last year compared to AED 2.29 billion in the previous year.
