Dubai, UAE–Gulf Navigation Holding (GULFNAV) has posted a net profit of $9.53 million for the first nine months of 2023.
In a statement today, the Dubai-based company said that operating revenue for the nine-month reached $23 million.
The statement added that its Q3 2023 net profit grew by 62% year-on-year (YoY) to AED6.8 million ($1.86 million) and said the focus ahead will be on ramping up revenues.
Ahmad Kilani, CEO of GULFNAV, said, “These results reflect our commitment to continuing to achieve growth and increase profitability by implementing the company’s strategy of improving financial performance, enhancing the efficiency of operational operations, and diversifying sources of income.
“We are currently focusing on achieving tangible and sustainable returns for our valued shareholders, and we are working hard to ensure the sustainability of the company’s success in the coming years.”