GIS aims to improve asset utilisation, better debt structure

GIS aims to improve asset utilisation, better debt structure

Gulf International Services' (GIS) subsidiaries such as Gulf Drilling International, Gulf Helicopters, Al Koot and Amwaj will continue efforts not only in maintaining their market share but also looking at to improving asset utilisation.

This multipronged approach is aimed at building a resilient future to create long term shareholder value, according to GIS chairman Sheikh Khalid bin Khalifa al-Thani.

"In addition, relentless efforts are being placed to achieve an efficient and effective debt structure for the group, which is a key ingredient of our corporate strategy," he told shareholders at the annual general assembly, which approved the 2021 financial results and the dividend.

These plans are currently under progress and would bring additional layer of financial sustainability to the group, with opportunities to expand our footprints, and consequently improve the competitive positioning, he said.

GIS will continue to emphasise on achieving cost efficiency across all its segments and will continue to implement new measures, which could further transform operations, via creating an additional layer of defence to an already lean organisation, Sheikh Khalid said.

Post-pandemic recovery for the group remained "uneven", with aviation and insurance segments continuing to demonstrate persistent improved set of results, while the drilling segment remained under pressure until first half of