Gulf Navigation posts Dh92.96 million H1 profit

Dubai: Gulf Navigation Holding PJSC has reported a net profit of Dh92.96 million, an increase of 95 per cent compared to Dh47.59 million for the same period last year

The company posted revenues of Dh200.88 million compared to Dh110.68 million in the first six months of 2007.

Besides strong global oil and petrochemicals flows, the results reflect the company's strategy balancing of long-term and med-term charters with key clients.

The total asset value of the company stood at Dh2.865 billion on June 30, 2008 whereas shareholder's equity was Dh1.770 billion.

Its earning per share as on June 30, 2008 was recorded at Dh0.056.