Abu Dhabi – Mubasher: Sharjah Group posted a 35% decline in net profit during the first quarter of 2018, recording AED 1.27 million, compared to AED 1.95 million in the year-ago period.

The group’s unreleased loss on investments at fair value through profit and loss registered AED 388,500 in the first three months of 2018, according to a bourse statement released on Tuesday.

General and administrative expenses grew 3% year-on-year in Q1-18, while maintenance expenses surged 9% year-on-year in the same period.

Other income dropped 41% to AED 30,600 in the three-month period ended 31 March against AED 52,100 in the comparative period of 2017.