Dubai - Mubasher: Gulf Navigation Holding reported AED 463,000 in net profits after tax during the first half (H1) of 2025, versus net losses of AED 24.69 million in H1-24.
Revenues surged to AED 54.35 million in the first six months (6M) of 2025 as compared to AED 37.46 million in H1-24, according to the unaudited financial results.
Basic and diluted earnings per share (EPS) hit AED 0.001 in H1-25, against a loss per share of AED 0.03 in the corresponding period last year.
Financials for Q2-25
During the second quarter (Q2) of 2025, the DFM-listed company shifted to net profits after tax valued at AED 7.37 million, versus net losses of AED 13.21 million in Q2-24.
The company generated revenues amounting to AED 28.54 million in April-June 2025, an annual leap of 110% from AED 13.63 million.
Building on its strong performance, the group reported basic and diluted EPS amounting to AED 0.01 in Q2-25, compared to a loss per share of AED 0.01 in Q2-24.
Ahmad Kilani, Board Member and CEO of Gulf Navigation, commented: "Our unwavering focus on enhancing fleet efficiency, disciplined financial management, and operational performance is now delivering tangible results.”
“In addition, the strategic acquisition of Borouj Energy Limited’s assets will mark a milestone in our transformation journey, strengthening our competitive capabilities and future growth prospects,” Kilani added.
He emphasized: “We are confident in our ability to build on this momentum in the second half of the year and remain committed to creating sustainable long-term value for our shareholders."
As of 31 December 2024, Gulf Navigation suffered net losses of AED 22.79 million, versus net profits worth AED 21.27 million in 2023.
