Gulf Navigation said on Monday its gross profit rose 5 per cent in the three months to March to Dh10 million

The company also posted an increase of 28 per cent in gross revenues that reached Dh37.7 million in the first quarter of 2018 compared to Dh29.4 million during the first quarter last year.

“Diversifying our group’s income resources through various operational sectors in addition to the initial improvement in the shipping sector make us optimistic and confident about our operational and financial results in 2018,” Khamis Juma Bu Amim, Board Member, Managing Director and Group CEO of Gulf Navigation Holding said in a statement.