Dubai – Mubasher: Gulf Navigation Holding, listed on Dubai Financial Market (DFM), on Wednesday announced its financial results for the third quarter of 2017.

Total profits declined 89.4% to AED 12.36 million ($3.36 million) in Q3-17, as compared to AED 116.81 million ($31.79 million) in the same period of 2016, according to a bourse statement.

The profits for the first nine months of 2017 also fell 57% to AED 31.39 million, versus AED 131.17 million in the comparable period of 2016.

Finance charges of the company rose 57% in nine months to AED 8.29 million against AED 5.28 million in the year-ago period.