The profits of Union Coop declined by 31 percent year on year in the first half of 2023, compared to the first half of 2022.
The company indicated, in a statement to the Dubai Financial Market today, Wednesday, that the net profit for the first six months of this year amounted to 153.4 million dirhams, compared to 222.4 million dirhams in the first half of 2022.
The company's income from the sale of goods decreased by about 5%, to reach 918 million dirhams in the first half of 2023, compared to 965.2 million dirhams in the first half of 2022.
The company's financial results indicated an increase in employee costs by 7 percent to more than 150.3 million dirhams, and an increase in government fees and subscriptions by 67 percent to 8 million dirhams during the first half of 2023.
The Dubai Stock Exchange announced that the company's shares would be returned to circulation after the market management suspended it for not announcing the financial results for the first half of this year.
