Ooredoo Discloses Interim Financial Statement for Six Month Period Ended June 30, 2017

 

July 27, 2017

 

Ooredoo disclosed its reviewed financial statements for the period ended on June 30, 2017. The statements show that the net profit is QR 1,097 million Compared to net profit amounting to QR 1,462 million For the same period of the previous year.

 

The Earnings per Share (EPS) amounted to QR 3.42 For the period ended June 30, 2017 to EPS amounted to QR 4.56 for the same period of the previous year.

 

The Group's Comment

 

Ooredoo's total income increased by 2.2% to QR 16.3 billion in the second quarter of this year. Total expenses increased by 5.2% to QR 14.95, including QR 5.9 billion for operations; QR 3.42 billion as public, administrative and sales expenses; 4.2 billion as depreciation, in addition to financing cost.  As result, net profit posted in this period dropped by 25% to QR 1096 million, after deducting taxes. There was a positive change in the fair value of investment worth QR 184 million, thus pushing the comprehensive income up to QR 1267.6. However, it is still less than the one posted in the same period last year.