(MENAFN) Gulf International Services (GIS) announced it has registered an increase in its profit to reach USD214.41 million in the January-September period of this year, which is an increase by 70 percent compared to the corresponding period of last year, Gulf Times reported.
This growth is mainly attributed to an increase in the company's drilling business, which reached USD77.98 million, up by 174.7 percent, as well as the commencement of 'Al-Jassra', 'Leshat', 'Msheireb' and 'Rumailah' operations, and the extension of three offshore rig contracts for overseas drilling.
GIF's aviation segment revenue also registered an increase, up 4 percent to USD131.57 due to an increase in the number of helicopters in the segment's fleet which resulted in operations in several new territories, while the group's insurance subsidiary reported an increase by 6 percent in revenue to USD 150.28 million.
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