Nakilat Discloses Its Consolidated Financial Statements for 2016

February 02, 2017

Nakilat's net profit is QR 954.2 million compared to net profit amounting to QR 982.3 million for the same period of the previous year. Earnings per Share (EPS) amounted to QR 1.72 compared to QR 1.77 for the same period of the previous year. The Board of Directors’ suggestions regarding distribution of cash dividends for the fiscal year ended 31/12/2016 totaling (10%) of the capital, which is equivalent to (One Riyal) per share.

The Group's Comment

Nakilat's operational income increased by 2.25% to QR3.76 million in 2016, including QR 3.07 billion as revenues of operating ships. Total expenses increased by 4.1% to QR2.81 billion, including 718 million as expenses of operating the ships, and QR1187.7 million as financing cost. Consequently, this year's profit attributable to shareholders dropped by 2.9% to QR954.2 million. The company also made profit from the positive change in the fair value worth QR578 million, thus causing the comprehensive income to rise to QR1532.5 million.