IQ Discloses Its Financial Statements for The 1st Half of 2017

August 9, 2017

Industries Qatar disclosed its financial statements for the six-month period ended June 30, 2017. The statements show that the net profit is QR 1,609.9 million compared to net profit amounting to QR 1,988.8 million for the same period of the previous year. Earnings Per Share (EPS) amounted to QR 2.66 for the period ended June 30, 2017 compared to EPS of QR 3.29 for the same period of the previous year.

The Group's Comment

Industries Qatar's total income from its core activities dropped by 50.2% to QR 343.9 million. Public and administrative expenses increased by 76.1% to QR 123.6 million. While sales expenses settled at the level of 16 million, investments dropped to QR 60.9 million. The company's share from joint ventures and associate companies increased by 4.1% to QR 1284 million. As result, net profit fell by 19.1% to QR 1609.9 million. There was a decline in the fair value of investments worth QR 73.7 million. Therefore, comprehensive income amounted to QR 1536.2 million.