Dubai – Mubasher: Mohamed Abdulrahman Amiri resigned from his position as the Vice Chairman of Gulf Navigation Holding (GNH).

Abdulrahman Mahmoud Al Afifi will succeed Amiri, according to a bourse disclosure.

The board accepted the resignation during its meeting on 11 June 2024.

In the first quarter (Q1) of 2024, Gulf Navigation shifted to net losses valued at AED 11.48 million, compared to net profits worth AED 13.49 million in Q1-23.

Revenues declined to AED 23.83 million in Q1-24 from AED 38.88 million a year earlier. Meanwhile, the basic and diluted loss per share hit AED 0.010 as of 31 March 2024, versus earnings per share (EPS) of AED 0.011 in Q1-23.