Dubai-based Gulf General Investment Company (GGICO) announced a net profit of Dhs45 million for the second quarter of 2010 in comparison with Dhs158 million for the same period last year, a drop of 71.5 per cent. In the 6-month period ended on June 30 2010, it posted net loss of Dhs36 million, in comparison to the net profit of Dhs219 million for the same period last year. The revenue for the 6-month stood at Dhs1.3 billion compared to Dhs3.1 billion for the same period last year, a decline of 66.5 per cent. “Although our second quarter results were highly positive, our cumulative 6-month figure resulted in negative mainly due to a one‐off transaction in Q1 2010, wherein we sold a loss making associate” said Mohamed Al Sari, Managing Director of the Group. Listed on Dubai Financial Market, the investment and finance company’s counter saw no trading in the morning hours.