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(Group’s
Comments) Widam Net Profit Rises 18.3% to QR180.08 Million,
Recommends Dividends of 42.5%
Widam Food
recorded a net profit of QR108.1 million in 2017, compared to
QR91.3 in the previous year, while its earnings per share
amounted to QR6, compared to QR5.07. The Company’s Board
recommended distributing cash dividends of QR4.25 per share.
The Group’s Comments
Widam's total
revenue increased by 11.6% to QR495.7 million, while its sales
expenses went up by 19.1% to QR779 million. As a result, the
Widam’s sales loss rose by 35% to QR 283.3 million, while
government subsidization rose by 26.3% to QR430.8 million. In
contrast, the company’s all expenses increased by 18.8% to
QR49.4 million. The resulting net profit, after adding and
deducting other items, increases by 18.3% in 2017, to settle at
QR108.1 million.
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