Dubai-Mubasher: Gulfa Mineral Water and Processing Industries saw a 42% drop year-on-year in its net profits during the second quarter of 2016, according to a bourse statement.

Net profits reached AED 1.49 million ($405,570) in Q2-16, compared to AED 2.57 million ($699,530) in Q2-15.

In H1-16, profits declined 64.4% to AED 1.16 million from AED 3.26 million recorded in H1-15.