Abu Dhabi – Mubasher: Sharjah Group’s profits declined in the first quarter of fiscal 2016 by 29% year on year.

 Net profit reached AED 1.35 million ($367,000) in Q1-16, versus AED 1.9 million (4517,000) in the same quarter of 2015.

The ADX-listed company earlier posted a net profit of AED 14.8 million ($4.03 million) in 2015, compared to AED 27.2 million ($7.41 million) in 2014.