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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.
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