Industries Qatar Net Profit in 2016 Fell 33.8% to QR 2955 Million   
The Board recommended distributing a cash dividend of QR 4 per share
 
February 05 - 2017  

 
Industries Qatar net profit at the end of 2016 amounted to QR 2,955.0 million, a decrease of 33.8% compared to net profit of QR 4,468.7 million in the corresponding period last year. Earnings per share stood at QR 4.88 versus QR 7.39 in the corresponding period in 2015.
 
The Board of Directors has recommended a cash dividend of QR 4 per share for the fiscal year 2016. The Board also agreed to call for the Annual General Meeting (AGM) and Extraordinary General Assembly (EGM) to be held on Tuesday, 28.02.2017.
 
The Group Securities Comment:
Total profit of Industries Qatar in 2016 decreased 3.4% to QR 1.14 billion. Expenses including selling expenses increased by 16.3% to QR 269.3 million. The company got stakes of profits from the financial results of associates companies amounted to QR 1765 million compared to QR 3799 million in the previous year. There was investment revenue of QR 226.4 million. As a result, net profit of the company fell by 32.9% to QR 2955 million. The comprehensive income decreased by 24% to QR 3,350 million.