Net Profit of Mazaya in Q1, 2017 Fall to QR 5 Million
Earnings per share (EPS) stood at QR
0.046
April 27, 2017
Mazaya Qatar Real Estate Development Company net profit for the first quarter stood at QR
5.02 million compared to QR 26.69 million in the corresponding
period last year. Earnings per share reached QR 0.046 versus QR
0.242 in the corresponding period in 2016.
The Group Securities Comment:
Mazaya Qatar profit from building dropped
in the first
quarter 2017 to QR 10.3 million shrinking its total revenue by
the rate of 54.4% to QR 17 million. The company’s expenses rose
by 20% to QR 3.6 million and
the cost of financing increased by 16% to QR 8.4 million. As a
result, net profit shrank to less than a fifth, reaching to
about QR 5.02 million.
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