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Gulf Investment Q1 losses rise 69%

Gulf Investment Q1 losses rise 69%
Photo Credit: Arabianeye-Reuters)
GIS
GISI
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Mubasher: Gulf Investment Services Holding Company’s losses rose 69% in the first quarter of 2017 compared to Q1-16, the company’s financial statements said.

Losses stood at OMR 126,320 ($326,920) in Q1-17, compared to OMR 406,950 ($1.05 million) in Q1-16, according to the statements to the Muscat Securities Market (MSM) on Wednesday.

Total revenues dropped 59.4% to OMR 317,640 in Q1-17, compared to OMR 781,310 in Q1-16.

Annual profits of 2016 reached OMR 352,560, against losses of OMR 1.21 million in the year before.