Medicare Group Net Profit in 2016 Drop 63.9% to QR 65 Million

 

February 13, 2017

 

Medicare Group net profit reached QR65 million compared to QR180.3 million for the same period of the previous year, 64% decrease. Earnings per Share (EPS) amounted to QR2.31 compared to QR 6.41 for the same period of the previous year. The Board of Directors of the company recommended distributing a cash dividend of QR 3 per share.   

 

The Group's Comment

 

Medicare's net operational income increased by 34.1% to QR196.2 million in 2016. Public and administrative expenses increased by 7.5% to QR115.3 million. Adding other sources of income, deducting depreciation allowances, then the profit posted this year drops by 63.9% to QR65.2 million; and comprehensive income falls to 63.2 million.