United Gulf Holding Company announced earnings results for the first half of 2020. For the period, the company reported revenue of $64 million, which reduced from $120 million in the same period of 2019. This is largely on account of a sharp decrease in investment income, owing to adverse market movements, along with the reduction and share of results from associates to $5 million in the first half 2020 from $25 million in the same period of 2019. The company reported a net loss of $31 million as compared to a profit of $10 million last year. The decrease in profit was a combination of lower revenue and higher provision considering uncertain market conditions.