Abu Dhabi – Mubasher: Umm Al Qaiwain General Investment Co reported a decline by 80.3% in losses during the third quarter of 2016 as compared to the same period a year ago.

Losses narrowed to AED 1.98 million (about $538,900) in Q3-16, compared to AED 10.05 million ($2.74 million) in Q3-15, according to a bourse filing to ADX issued on Sunday.

The company, which is listed on both ADX and KSE, achieved profits worth AED 23.47 million during the first nine months of 2016 versus losses of AED 2.23 million in the same period of the prior year.