Gulf Navigation returns to profitability with strong Q2 revenue growth

Dubai-based Gulf Navigation Holding has announced a return to profitability for the second quarter of 2025, reporting a net profit of AED7.4 million. This marks a significant improvement from the net loss of AED13.2 million recorded in the same period of 2024.

The company's revenue for the quarter, which ended June 30, surged by 110 per cent year-on-year to AED28.5 million, up from AED13.6 million in the second quarter of last year. Gulf Navigation stated that the strong results were driven by higher vessel chartering activity, improved fleet utilisation, and continued cost discipline.

The company also achieved a gross profit of AED6.2 million, a positive turnaround of AED18.7 million from the gross loss of AED12.5 million reported in the same quarter of the previous year. Direct costs for the quarter were down 22 per cent to AED22.3 million.

Ahmad Kilani, the company's CEO, stated that the focus on fleet efficiency and disciplined financial management is delivering tangible results. The company's cash and bank balances stood at AED24.4 million at the end of the quarter.