Gulf Warehousing Profits in 2016 Rise to QR 205 Million
BOD recommends
distributing cash dividend of 16% per share
January 2017
Net profit for Gulf Warehousing in 2016 rose
to QR 205 million compared to 185 million
last year. Earnings per share stood at QR
3.54 versus QR 3.85 in 2015l. The Board of
Directors recommended to the General
Assembly Meeting distributing a cash
dividend of QR 1.60 (16%) per share.
The Group Securities Comment:
Total profit for Gulf Warehousing in 2016
rose 7.6% to QR 308.4 million and there were
other revenues of QR 18.3 million .
Administrative and other expenses decreased
4.7% to QR 93.5 million. As a result, the
total operating profit increased by 6% to QR
233.4 million. After deducting financing
costs, which decreased by 7.1% to QR 27.8
million, the overall income of the company
rose by 11.1% to QR 205.67 million.