Gulf Warehousing Discloses It’s Financial for The First Quarter Ended 31/03/2017

April 18, 2017

Gulf warehousing company disclosed its Reviewed financial statements for the period ended on 31.03.2017. The statements show that the net profit is QR 50.5 mil Compared to net profit amounting to QR 46.5 mil for the same period of the previous year.

Earnings per Share EPS amounted to QR 0.86 in the 1st quarter of 2017 compared to EPS amounted to QR 0.82 for the same period of the previous year

The Group Comment

Gulf Warehousing company's total profit increased in the first quarter by 7.6% to QR58.3 million. Other sources of income decreased by QR 3.8 million. In contrast, total public and administrative expenses fell by 3.3% to QR24.8 million.  Net financing cost slightly increased to QR7.77 million. As result, the net profit posted in this quarter increased by 8.4% to QR 50.5 million.