UAE News Today : Business

GULFNAV announces net profit of AED 35 million for the 9th month of 2023


Gulf Navigation Holding (GULFNAV), the maritime and shipping company listed on the Dubai Financial Market, announced that it made a net profit of AED 35 million for the ninth month of 2023, compared to AED 1.8 million in the same period of the previous year.

In its statement today, the Dubai-based company said operating income for the nine months reached AED83 million.

The statement added that its Q3 2023 net profit grew 62% year-on-year (y-o-y) to AED 6.8 million ($1.86 million) and said the focus will be on revenue growth.

Ahmad Kilani, CEO of GULFNAV, saying,

“These results reflect our commitment to continue achieving growth and increasing profitability by implementing the company’s strategy of improving financial performance, improving the efficiency of operating operations and diversifying revenue sources.

“We are currently focused on achieving tangible, sustainable returns for our valued shareholders, and are working hard to ensure the sustainability of the company’s success for years to come.”

News source: Emirates News Agency


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