Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business

TSMC first-quarter net profit soars

Its net revenue for the quarter soared nearly 42%.

Tesla’s first Saudi showroom opens

The opening in Riyadh comes with Tesla sales dropping.

Mubadala Energy enters US energy market

Acquires a 24.1% interest in US firm Kimmeridge’s SoTex

Borouge to increase dividend from 2025

The company okayed $650 million final dividend for 2024.

TikTok’s US future uncertain

It must find non-Chinese owner to avoid ban.

Gulf Navigation posts profit

The company statement said that its Q3 2023 net profit grew by 62% to $1.86 million. (WAM)
By TRENDS Desk
October 17, 2023 3:20 pm
  • The Dubai-based company in a statement said that operating revenue for the nine-month reached $23 million
  • The company CEO said that the management was focusing on achieving sustainable returns for their shareholders

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.”

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

Energy deals top list as Bahrain issues $1.6bn tenders in Q1 2021

Majority of tenders issued are part of Bahrain’s $32 billion infrastructure development plans Oil and gas $767m, aviation $382m, construction and engineering $194m, materials and equipment $119m     Bahrain…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

[adinserter block="4"]