Qatar Oman Investment  in 2016 Drop 27% to QR 13.37 Million

 

February 16, 2017

 

Qatar Oman Investment's net profit is QR 13,374,260 compared to QR 18,341,064 for the same period of the previous year. ESP amounted to QR 0.425 compared to QR 0.582 for the same period of the previous year. The boards recommend the distribution of 5% cash dividend equivalent to 50 dirhams per share.

 

The Group's Comment

 

Qatar Oman Investment's total income dropped to 19.4 million compared to QR25.1 million in the last year, including QR14 million as net investment revenues.  Expenses increased slightly to QR6.33 million. As result, this year's net profit fell by 26.8% to QR13.4 million. However, the company incurred losses as result of negative change in the fair value of investment worth QR17.7 million, thus turning profit into a loss in the comprehensive income worth QR4.3 million, compared to 6.96 million in the last year.