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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.
ounce.
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