Islamic Holding Net Profit Down 81.7% to
QR237 Thousand in Q1 2018
April 24, 2018
The net profit of Islamic Holding amounted to
QR237 thousand in the first quarter of 2018, compared to QR1.3
million in the same period of 2017. The company’s earnings per
share recorded QR0.04 in this first quarter, versus QR0.23 for
the corresponding period of 2017.
The Group’s Comments:
Islamic Holding’s operating income decreased
in the first quarter of 2018 by 35% to QR2.21 million, of which
QR1.02 million were generated from commissions (compared to
QR2.78 million in the corresponding period of 2017), and QR842
thousand from savings accounts. After deducting expenses of
QR1.83 million and taking into account depreciation and
commissions, the net profit shrank to QR237 thousand compared to
QR1.31 million in the corresponding period of 2017. It should be
noted that there was a fair value loss of QR333 thousand, with a
net loss of QR95.8 thousand.
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