Abu Dhabi – Mubasher: Sharjah Group said its net profits declined 53% year-on-year during the second quarter of 2017, according to a bourse statement.

Profits reached AED 1.40 million ($38,100) in Q2-17, compared to AED 3 million ($81,660) in Q2-16.

Other revenues fell 94.11% to AED 34.85 million in Q2-17, compared to AED 591.97 million in Q2-16.

Net profits reached AED 3.35 million in the first half of 2017, down 23% from AED 4.35 million in the prior-year period.

In H1-17, other revenues declined to AED 87,000 as compared to AED 678,500 in the same period of 2016.

General and administrative expenses (G&A) grew to AED 2.76 million in H1-17.