Gulf International Services Net Profit in 2016 Fall 91.2%
to QR 67 Million
February 07,
2017
Gulf International Services' net profit
amounted to QR67 million compared to QR801
million for the same period of the previous
year. EPS amounted to QR0.36 compared to
QR4.31 for the same period of the previous
year. The Board of Directors of the company
recommended a dividend of QR 1 per share for
the period.
The Group's Comment
Gulf International Services'
income from its business activities dropped
28.2% to QR2.99 billion. Direct cost fell by
16.8% to QR2.46 billion. As result, the
company's total income from business
activities declined by 56.2% to QR529.8
million. Public expenses dropped by 7% to QR
248.5 million; while financing cost
increased by 59.5% to QR 125.2 million.
Losses increased to QR122.3 million. As
result, the company's net income shrunk by
91.2% to QR67 million, and comprehensive
income declined to QR58.5 million.