Dubai - Mubasher: The financial statements of Dubai Refreshments showed a decline in net profits in the fourth quarter of 2016 by 27.3% year-on-year.

Profits reached AED 24.92 million ($6.78 million) in Q4-16 compared to AED 34.29 million ($9.33 million) in Q4-15, according to thye company’s statement to the Dubai Financial Market (DFM) on Monday.

The company also reported a 20.6% decline in annual profits to AED 118.1 million in 2016 down from AED 148.7 million in 2015.