Widam Food Net Profit in 2016 Rises 32% to QR 91.2 Million   
Board recommended distributing QR 3.5 per share
 
January 29, 2017  
 
Widam Food Company net profit in 2016 amounted to about QR 91.29 million compared to QR  69.14 million in the corresponding period last year.  Earnings per share stood at QR 5.07 versus QR 3.84 in the corresponding period in 2015. The Board of Directors proposed a cash dividend of QR 3.5 per share.
 
The Group Securities Comment:
 
 Widam Food Company operating losses in 2016 decreased 22% to QR 209.8 million and it obtained   Government support of QR 341 million in meat price, down 8.5% from government support provided last year.  General and administrative expenses increased by 14.3% to QR 41.6 million. As a result, net profit for the year rose by 32.1% to QR 91.3 million and the comprehensive income amounted to QR 85.4 million due to currency differences losses.