Qatar Cinema & Film Distribution Co. Discloses Its Financial Statements for The Year 2016

 

January 23, 2017

 

Qatar Cinema & Film posted net profit of QR 4.30 million compared 14.33 for the same period of the previous year. E/P amounted to QR 0.68 compared to QR 2.28 for the same period of the previous year.

 

The Group's Comment

 

Qatar Cinema's operational loss hit QR 880.000 in 2016, compared to one million profit registered last year. Others sources of income settled at QR 19.1 million, including QR17.4 million as rental revenues. Public and administrative expenses slightly declined to QR4.1 million. The company incurred losses as result of the depreciation of properties and investments amounted to QR4.48 million, QR 4.5 million loss as result of decline in the available for sale securities, and financing cost worth QR 906.000. As result, this year's net profit amounted to QR 4.3 million, compared to QR 1.43 million last year; and comprehensive income increased to QR 9.7 million as result of rearranging some items relating to the fair value.