Dubai – Mubasher: Gulf Navigation Holding (GNH) has turned to net losses attributable to the owners worth AED 2.53 million in the first half (H1) of 2022, against net profits of AED 80.10 million in H1-21.

The operating revenues jumped to AED 72.34 million during January-June 2022, compared to AED 62.42 million in the year-ago period, according to the income statements.

The basic and diluted loss per share attributable to the owners stood at AED 0.0025 in H1-22, versus earnings per share (EPS) of AED 0.0786 in H1-21.

Meanwhile, the company’s accumulated losses amounted to AED 671.44 million as of H1-22, accounting for 65.90% of the capital.

During the second quarter (Q2) of 2022, the net losses attributable to the shareholders of GNH plummeted to AED 4.18 million from AED 26,000 in Q2-21.

Moreover, the operating revenues increased to AED 37.27 million in the April-June 2022 period, compared to AED 31.23 million during the same period a year earlier.

The basic and diluted loss per share attributable to the owners enlarged to AED 0.00410 in Q2-22 from AED 0.00003 in Q2-21.

In the first three months (3M) of 2022, the UAE-based firm generated AED 1.65 million in net profit attributable to the equityholders, lower than AED 80.13 million in Q1-21.