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GGICO posts $5.7m Q1 net profit

DUBAI, May 16, 2015

Gulf General Investment Company (GGICO), leading investment company listed in Dubai Financial Market (DFM), has registered a net profit of Dh21 million ($5.7 million) for the first quarter compared to Dh22 million last year.  

Announcing the results, GGICO said its gross profit for the first quarter rose to Dh71 million from Dh70 million last year, thus reflecting a strong recovery.
 
The total bank debts were brought down to Dh2.79 billion from last year’s Dh2.96 billion. The total assets of the company was seen at Dh6.1 billion.

However, the revenue for the first quarter fell to Dh274 million from Dh345 million last year-TradeArabia News Service




Tags: Gulf General Investment Company |

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