(MENAFN) Gulf Intl' Services (GIS), the major services group in Qatar posted a revenue of USD 212.62mn for Q1 of this year, down from USD 0.32bn of 2015.
Moreover, the reduction was driven by a combination of factors involving softening of rates and reduced level of activities via all group segments.
In addition, net profit for the cited quarter was USD 21.64mn with earnings per share of USD 0.12, compared to 2015 profit which stood at USD 97.58mn.
The group has embarked on many measures to increase its profitability including more rationalizing the costs together with the utilization of operating assets.
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