ALBAWABA - The net profits of Gulf Navigation Emirates increased by 54% in the third quarter of this year, reaching approximately AED 7 million ($1,905 million) on an annual basis.
This remarkable growth can be attributed to a surge in non-operational revenues, which amounted to AED 18.4 million ($5,009 million) compared to AED 819,000 ($222,975) in the same quarter of the previous year.
Over the span of nine months, the company's profits soared by approximately 17-fold, totaling AED 34.7 million. This impressive performance occurred despite a 33% decline in operational profits to AED 18 million, offset by a significant increase in non-operational revenues amounting to AED 39 million.
