Dubai – Mubasher: Gulf Navigation Holding (GNH) shifted to net losses valued at AED 24.69 million in the first half (H1) of 2024, versus net profits of AED 27.78 million in H1-23.
Revenue shrank to AED 37.46 million in H1-24 from AED 64.87 million a year earlier, according to the unaudited interim financial results.
The basic and diluted loss per share hit AED 0.03 in the first six months (6M) of 2024, against earnings per share (EPS) worth AED 0.05 in H1-23.
Results for Q2
In the second quarter (Q2) of 2024, the company also turned to losses of AED 13.21 million, versus net profits amounting to AED 14.02 million in Q2-23. Basic and diluted loss per share stood at AED 0.01 when compared to an EPS of AED 0.04.
Meanwhile, the revenues plunged to AED 13.63 million in April-June 2024 from AED 25.89 million a year earlier.
As of 31 March 2024, Gulf Navigation Holding incurred net losses worth AED 11.48 million, compared to net profits of AED 13.49 million in Q1-23.
