Gulf International Services Discloses Its Financial Statements for 1st Quarter of 2017

April 19, 2017

Gulf International Services disclosed its financial statements for the three-months period ended March 31, 2017. The statements show that the net profit is QR 15 million compared to net profit amounting to QR 79 million for the same period of the previous year.

Earnings per Share (EPS) amounted to QR 0.08 for the period ended March 31, 2017 compared to EPS of QR 0.42 for the same period of the previous year

The Group Comment

Gulf International Services' net income from core business dropped by 36.2% to QR87.8 million in the first quarter of 2017, including revenues from investments and other sources worth QR17.9 million. Total expenses increased by 8.6% to QR 61.6 million, in addition to net financing cost worth QR29 million. As result, the company's profit declined by 81% to QR 15.1 million.