Dlala Net Profit Up 338% to QR16.65 Million; Board Recommends Against Distribution of Dividends

February 28, 2018

Dlala Holding net profit recorded QR16.65 million for the year 2017, compared to QR3.80 million for the same period last year. The Holding’s earnings per share amounted to QR0.59 compared to QR0.13 in the same period of 2016.

The Group’s Comments:

Dlala's net operating income increased by 70.4% to QR46.7 million in 2017, of which QR36.9 million was generated from brokerage activities and commissions. General and administrative expenses increased by 18.2% to QR28.6 million, and depreciation increased slightly and stood at QR1.8 million. As a result, the net profit increased by 338% to QR16.65 million, (it should be noted that the holding’s quarterly profit fell from QR10.1 million in the first quarter to QR3.9 million in the second, to QR3.3 million in the third, to a loss of QR600,000 in the fourth quarter). The company had a fair value loss of QR42.1 million in 2017, raising the comprehensive loss by 311% to QR25.5 million.