Qatar Oman Investment Co. Profits in Q2, 2017 Drop 18% to QR 10.55 Million

July 31, 2017

Qatar Oman Investment Co. disclosed its reviewed financial statements for the period ended on June 30, 2017. The statements show that the net profit is QR   10,551,129 Compared to net profit amounting to QR 12,877,512 For the same period of the previous year. Earnings per Share (ESP) amounted to QR 0.335. For the period ended on June 30, 2017 compared to ESP amounted to QR 0.409 for the same period of the previous year.

The Group's Comment

Qatar Oman Investment's total income declined to QR 13.4 million in the second quarter, compared to QR 15.1 million in the same period last year. Total expenses increased by QR2.97 million. As result, net profit posted in this period increased by 18.1 % to QR10.55 million. In contrast, the bank incurred losses as result of a negative change in the fair value of investments worth QR 13.2 million, which turned net profit into a comprehensive loss worth QR 2.6 million.