Mesaieed Profits Drops by 8.5% to QR
994.6 Million
February 06, 2017
Mesaieed
Petrochemical Holding Company disclosed
its financial statements for the period
ended on 31.12.2016. The statements show
that the net profit is QR 995 million
compared to net profit amounting to QR
1,087 million for the same period of the
previous year.
Earnings per Share
(EPS) amounted to QR 0.79 for the period
ended December 31, 2016 compared to EPS
amounted to QR 0.87 for the same period
of the previous year.
The Board of
Directors of the company recommended a
dividend of QR 0. 6 per share for the
period.
The Group's
Comment
Mesaieed's total
income declined by 8.2% to QR 922.2
million in 2016, including QR901.3
million as share of profit in joint
projects.
This decline is attributed to a
decline in the prices of its products.
Expenses rose by QR 0.5 million to
QR17.3 million. As result, the company's
profit fell by 8.3% to QR 904.9 million.
The company received tax returns worth
QR89.8 million, thus raising the
comprehensive income into QR 994.6
million; though it is still below the
QR1087 million figure notched last year.