Gulf Navigation Holding announced its financial results for 2017 achieving a seven percent increase compared to 2016 with a gross profit of AED49 million.
Commenting on the company’s financial progress, Khamis Juma Buamim, Board Member, Managing Director and Group CEO of Gulf Navigation Holding Group, said, "The shipping and marine services sector in our region is ultimately promising for those who know how to benefit from it and who have the experience to establish a well-planned strategy to invest in this industry with its numerous opportunities. We are proud to be a success story because we are the first and the only shipping company listed in Dubai Financial Market and we are committed to contribute to the national economy diversification. '' Gulf Navigation’s constant efforts and strategic plans have encouraged investors and shareholders to raise their stake in order to increase their returns. The capital increase to reach AED1 billion has been processed through the "Rights Issue" that started on 11th February and will end by 22nd February.