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.