GMPC records profit decline in Q1

GMPC records profit decline in Q1
GMPC’s net profit went down to AED 12.1 million in Q1-19
GMPC
GMPC
-3.33% 1.45 -0.05

Abu Dhabi – MubasherGulf Medical Projects Company (GMPC) on Wednesday posted a 32% year-on-year profit decline in the first quarter of 2019.

GMPC’s net profit went down to AED 12.1 million in Q1-19, compared to AED 17.8 million in the year-ago period, according to a bourse statement. 

Other revenue dropped to AED 5.7 million in the first three months of 2019 from AED 22.3 million a year earlier.

Administrative income rose 10% YoY to AED 26.5 million from January to the end of March.

GMPC registered a 91.66% year-on-year profit decline for the full-year 2018.