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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.
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