Abu Dhabi – Mubasher: Agthia Group on Sunday reported a 10% year-on-year drop in net profit for the first quarter of 2018, recording AED 47.1 million from AED 52.4 million.

Earnings per share (EPS) retreated 10% to AED 0.079 in Q1-18, versus AED 0.087 in Q1-17, Agthia said in a filing to the Abu Dhabi Securities Market (ADX).

The company attributed the drop in profits to the 6% decline in revenues to AED 490.88 million and to the 75% plunge in other income to AED 2.8 million.

Agthia had previously posted a 19% year-on-year fall in net profit for the full-year 2017, reaching AED 206.1 million, compared to AED 254.3 million for 2016.