Zad Net Profit Up 18.3% to QR198.30 Million in 2017, Board Recommends Distributing 65% in Cash Dividends and 5% in Bonus Shares

March 11, 2018

The net profit of Zad increased in 2017 to about QR198.3 million, compared to QR167.6 million for the same period of the previous year. The company’s earnings per share recorded QR9.20, versus QR7.78 for the corresponding period in 2016. Zad’s Board of Directors recommended distributing 65% of the nominal share value in cash dividends and 5% in bonus shares.

The Group’s Comments:

Zad’s total revenues decreased by 1.5% to QR1,222.9 million in 2017, of which QR1133.6 million were generated from operations and QR89.4 million from government subsidization, while the Holding’s operating cost decreased by 1.5% to QR909.4 million. As a result, the total profits stood at QR313.5 million, while the general and administrative expenses increased by 18.3% to QR147.4 million. After adding another QR42.2 million of revenues among others, and deducting other items, the result is an 18.3% increase in the net profit to QR198.3 million, and a slight push upwards of the comprehensive income to QR203.2 million.

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