Aamal Profits in 2016 Fall By 23% to QR 462.3 Million  
Earnings per share drop to 73 Dirhams
 
March 19, 2017  

 
Net profit of Aamal in 2016 declined 23% to about QR 462.3 million compared to QR 601 million in the corresponding period in the previous year. Earnings per share stood at QR 0.73 compared to QR 0.95 in the corresponding period in 2015. The Board of Directors recommended distributing a cash dividend of QR 0.60 per share.
 
The Group Securities Comment:
 
 Aamal gross profit from its operations in 2016 rose by 6.4% to QR 683.4 million and the company achieved a profit worth QR 16.5 million riyals as other income and QR 60.2 million stake of profits from companies in which it invests. In contrast, the total expenses of all kinds, including financing cost, marketing, depreciation and general and administrative expenses increased by 6.9% to QR 200.8 million. As a result, net profit attributable to shareholders decreased by 13.1% to QR 462.3 million.