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Umm Al Qaiwain swings to profits in Q4

Umm Al Qaiwain swings to profits in Q4
NBQ's net profits reached AED 5.53 million ($14.3 million) in Q4-16 (Photo Credit: Arabianeye-Reuters)
QIC
QIC
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Dubai – Mubasher: Umm Al Qaiwain General Investments Company turned profitable in the fourth quarter of 2016, according to a bourse statement.

Net profits reached AED 5.53 million ($14.3 million) in Q4-16, against losses of AED 24.28 million ($62.61 million) in Q4-15.

In 2016, the company generated profits of AED 29 million against losses of AED 26.51 million in 2015.