Abu Dhabi – Mubasher: Umm Al Qaiwain General Investment Co (QCEM) reported a 10.7% year-on-year decline in its profits during the second quarter of 2017, according to a bourse statement.
Profits reached AED 2.68 million ($729,000) in Q2-17, compared to AED 3 million ($816,000) in Q2-16.
In the first half of 2017, profits fell 33.6% to AED 16.9 million from AED 25.45 million in the prior-year period.
The profit decline is mainly due to a decrease in investment profits and the company’s stock.
