Salam International Profits in Q2, 2017 Drop 62.9% to QR 17.74 Million

Earnings per Share (EPS) amounted to QR 0.16

August 07, 2017  
 
Salam International Investment Company net profit for the first half of the year fell 62.9% to QR17.74 million compared to QR 47.55 million in the corresponding period last year. Earnings per share reached QR 0.16 versus QR 0.42 in the corresponding period in 2016.

 
The Group Securities Comment:
 
 The company's total revenues, after subtracting operating costs, decreased by 8.4% to QR 359.3 million and the revenues are mostly from its operations. Total expenses including salaries, general and administrative expenses, financing costs, management incentives and depreciation increased by 11.7% to QR 337.9 million. Net profit attributable to shareholders decreased by 62.8% to QR 17.7 million compared to QR 47.6 million in the corresponding period. The fair value of available-for-sale investments decreased by QR 5.7 million and accordingly the comprehensive income decreased to QR 12.06 million.