Gulf International Discloses Its Financial Statements for First Half
of 2017
July 31, 2017
Gulf International Services disclosed its financial statements
for the six-month period ended June 30, 2017. The statements
show that the net profit is QR 15.8 million compared to net
profit amounting to QR 160.7 million for the same period of the
previous year. Earnings per Share (EPS) amounted to QR 0.09 for
the period ended June 30, 2017 compared to EPS of QR 0.86 for
the same period of the previous year.
The Group's Comment
Gulf International's operational income dropped in the second
quarter of this year by 35% to QR 195.8 million. Administrative
and public expenses increased by 14.3% to QR128.5 million. Net
financing cost increased by 42.5% to 61 million. Adding other
items, including losses incurred as result of depreciation worth
QR 10.9 million, then net profit falls by 90% to QR 15.8
million. Hence, comprehensive income fell by QR 4.2 million as
result of the decline of its items by 11 million.
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