2023-05-17 06:01:17
Abu Dhabi – Mubasher: Gulf Navigation Holding Company announced that its accumulated losses amounted to 665.7 million dirhams, constituting 52.2 percent of its capital..
The company stated, in a statement, that the decrease in the revenues of all ships operating in the group due to the repercussions of the Corona pandemic, and the high cost of financing, is one of the reasons that led to the accumulated losses reaching 665.7 million dirhams.
The company indicated that it is working to improve the performance of ships and refinance the ships at lower financing costs. In order to deal with the accumulated losses.
The profits of Gulf Navigation Holding Company jumped by 694 percent during the first quarter of this year, compared to the first quarter of 2022..
The company stated that its profits amounted to 13.5 million dirhams at the end of the first quarter of 2023, compared to profits of 1.7 million dirhams in the first quarter of 2022..
The profits of Gulf Navigation Holding Company decreased by 91 percent in 2022, to 5.7 million dirhams, compared to profits of 60.7 million dirhams in 2021..
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