Dubai – Mubasher: Gulf General Investment Co (GGICO) on Thursday has reported its unaudited consolidated interim financial results for the period ended 30 June 2019.
GGICO has suffered a loss of AED 29.79 million in the second quarter of 2019, versus AED 43.45 million in Q2-18, according to a statement.
Revenue fell to AED 117.80 million in the three-month period ended 30 June 2019 from AED 123.64 million in Q2-18.
Gross profit amounted to AED 41.63 million in Q2-19, compared to AED 45.78 million in the year-ago period, the company said.
Loss per share (LPS) stood at AED 1.88 in the April-June period of the year, versus AED 3.02 in the prior-year period.
In the first half of 2019, the company has trimmed its losses to AED 59.12 million from AED 79.71 million in H1-18.
The company has generated revenue of ED 233.99 million in H1-19, versus AED 238.45 million in the corresponding period of 2018.
LPS hit AED 3.81 during the six-month period ended 30 June 2019, versus AED 6.02 in H1-18.
Total assets amounted to AED 5.32 billion at the end of June 2019, compared to AED 5.20 billion as at 31 December 2018.
GGICO previously announced it had incurred AED 29.33 million in losses in Q1-19, compared to AED 36.25 million in Q1-18.
The company’s revenue stood at AED 116.2 million in the three-month period ended 31 March 2019, versus AED 114.8 million in Q1-18.
