Salam International Investment Net Profit in 2016 Marginally Rise to QR 114.2 Million

 

February 06, 2017

 

Salam International net profit amounted to QR 114.2 compared to QR 113.1 for the same period last year. Earnings per share amounted to QR 1 compared to QR 0.99 for 2015. The BOD will recommend the distribution of cash dividends worth 8% of the company’s paid up capital, which equates to QR 0,80 per share.

 

The Group's Comment

 

Salam's total profit increased by 10% to QR736.7 million in 2016. Public expenses and salaries increased by 0.5 % to QR 506.5 million.  Financing cost increased by QR5 million to QR76 million. Adding revenues from consultancies and other investments, deducting directors' incentives and remunerations of the board of directors worth QR11.6 million, net profit attributed to shareholders rises to QR114.2 million. Comprehensive income increased to QR111.8 million compared to 105 million.