Mazaya Qatar Net Profit  in 2016 Drop to QR 74.63 Million
The Board recommended distributing bonus shares at 5%
 
March 15, 2017   
 
Mazaya Qatar Real Estate Development Company net profit in 2016 dropped to about QR 74.63 million compared to net  profit of QR 112.72 million in the corresponding period of the previous year. Earnings per share stood at QR 0.677 versus QR 1,022 in the corresponding period in 2015. The Board of Directors recommended distributing bonus shares by the rate of 5%.
 
The Group Securities Comment:
Mazaya Qatar total profit from its operations in 2016 decreased by the rate of 28.7% to QR 101.3 million including QR 101.3 million from construction operations. After deducting general and administrative expenses worth QR 16.6 million, cost of financing worth QR 31.2 million and a net loss in the fair value of investments worth QR 4.4 million, the net profit for the year fall 33.9% to QR 74.6 million.