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Electricity & Water Company Profits in Q2, 2017 Rise
2.5% to QR 811 Million
Earnings per share amounted to QR 7.37
July 26, 2017
Qatar Electricity & Water Company profits in the first half of
the year amounted to QR 811 million
compared to QR 791 million in the corresponding period
last year. The earnings per share amounted to QR 7.37 versus QR
7.19 in the corresponding period in 2016.
The Group Securities Comment:
Total operating revenues of the company decreased by 5.8% to QR
660.5 million in the first half. Total general and
administrative expenses increased by 7.2% to QR 99.7 million.
After adding a share in the profits of sister companies worth QR
286.6 million (compared to QR 185.8 million in the corresponding
period last year) and deducting the cost of financing which
increased by 10.8% to QR 89 million, the net profit for the
period increased by 2.4% to QR 810.6 million. There was a
decline in the fair value of investments amounting to QR 168.8
million compared to a decrease of QR 86.6 million in the
corresponding period in 2016. The comprehensive income decreased
by 9% to QR 641.7 million compared to QR 704.7 million in the
corresponding period last year.
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