Qatar Islamic Insurance's Profit Drops 22.5% to QR63.5 Million in 2016

 

February 13, 2017

 

Qatar Islamic Insurance net profit amounted to QR 63,502 million compared QR 81,988 million for the same period of the previous year. Earnings per Share (EPS) amounted to QR 4, 23 compared to QR 5, 47 for the same period of the previous year. The Board recommended distribution of Cash Dividends of 30 % from the share par value i.e. QR 3 for each share for the year 2016.

 

The Group's Comment

 

The company's agency fees increased by QR5 million to QR78.3 million in 2016, while total income dropped by 14% to QR104.3 million. Expenses increased slightly by QR1.5 million to QR40.8 million. As result, the company's net profit decreased by 22.5% to QR 63.5 million.