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Higher costs diminish Gulf Medical Projects Company profits

: Monday, February 17 - 2014 @ 15:23

The Abu Dhabi Securities Exchange General Index (ADXGI) closed 0.24 per cent lower at 4,880.06 points on Monday, February 17. Market bellwether, Etisalat, closed flat at AED11.80. Gulf Medical Projects Company (GMPC) also ended even, at AED2.70. Earlier in the day, the firm said that its net income for 2013 amounted to AED70.7 million ($19.28m), down from AED106.9m ($29.15m). The consolidated statements revealed that GMPC suffered from higher administrative expenses and rising costs of financing.

Gérard Al-Fil

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Monday, February 17- 2014 @ 15:23 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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