Aamal Net Profit Up 8.3% to QR500.9 Million; Board Recommends 6% Cash Dividends

March 1, 2018

Aamal Company net profit recorded QR500.9 million in the financial year of 2017, compared to QR462.3 million in 2016, while its earnings per share amounted to QR0.80 compared to QR0.73 for the same period of the previous year. The company’s Board of Directors recommended distributing cash dividends of QR0.60 per share.

The Group’s Comments:

Aamal’s operating profit decreased by 20.2% in 2017 to settle at QR545.6 million, and all expenses decreased by 12% to QR152 million. However, the company's share of the profits of its associates increased by 47.4% to QR102 million, while financing costs decreased to QR18.4 million. As a result, the net profit attributable to shareholders increased by 8.3% to QR500.9 million.