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.