Mubasher: Gulf International Services (GIS) has reported a 5% year-on-year increase in its revenue for the full year 2018, recording QAR 2.5 billion.

Meanwhile, GIS’ net loss registered QAR 98 million, according to a company statement released on Wednesday.

“This loss was due to increased finance costs resulting from a hike in policy interest rates and recognition of one-off expenses relating to the impairment of assets in the drilling segment,” GIS said. 

The company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) reached QAR 746 million last year.

GIS operates many sectors in the Qatari market including insurance and re-insurance, onshore and offshore drilling, accommodation barge, helicopter transportation, maintenance, repair and overhaul operations, and catering services.