Mubasher TV
Contact Us Advertising   العربية

Gulf Navigation posts AED 10.2m gross profit in Q1

Gulf Navigation posts AED 10.2m gross profit in Q1
Gulf Navigation’s gross revenue surged 28%
Gulf Navigation
GULFNAV
0.33% 6.12 0.02

Dubai – Mubasher: Gulf Navigation Holding has reported a 5% growth in its gross profit in the first quarter of 2018, registering AED 10.15 million ($2.78 million)

Gulf Navigation’s gross revenue surged 28% to AED 37.7 million in Q1-18 versus AED 29.4 million in the year-ago period, according to a company statement released on Monday.

“Diversifying our group’s income resources through various operational sectors in addition to the initial improvement in the shipping sector make us optimistic and confident about our operational and financial results in 2018,” Gulf Navigation’s Group CEO and managing director Khamis Juma Buamim commented.

Meanwhile, the Dubai-listed company’s operating expenses rose to AED 27.5 million in the three-month period ended 31 March, in comparison with AED 19.7 million in Q1-17, Gulf Navigation revealed.             

“We have focused on communicating with the leading companies in the Gulf Region and the United States of America as they are the major players in filtering and refining operations,” Buamim said.