Gulf In Focus - Gulf navigation holding records 19pc revenue growth.

Position:Gulf Navigation Holding PJSC

Gulf Navigation Holding, the Dubai Financial Market listed maritime and shipping company, has announced a 19 percent operating revenue growth by the end of Q3 of 2019, compared to the same period last year.

The company recorded an operating revenue of Dh130 million compared to Dh109 million in the same period of 2018. The company reported a net loss of Dh18 million in Q3 of 2019, bringing total losses in the first nine months of 2019 to Dh46 million. The decline in the company's financial performance is due to the high operating costs of vessels coupled with lower asset utilisation in the quarter.

Gulf Navigation has adapted well to the economic challenges in the first nine months of 2019. The company has successfully completed the 10-year special survey and...

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