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.