(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.