Qatar Industrial Manufacturing Co. Net Profit Falls to QR50.82 MM in Q1 2018

April 29, 2018

Qatar Industrial Manufacturing Co. (QIMC) net profit amounted to QR50.82 million in the first quarter of 2018, compared to QR60.44 million for the same period last year. QIMC’s earnings per share recorded QR1.07, versus QR1.27 for the corresponding period of 2017.

The Group’s Comments:

The company’s total conversion profit from sales in the first quarter decreased by 17.3% to QR25.8 million, and total expenses decreased by 5% to QR17.2 million. Other incomes decreased by 12.4% to QR43.6 million, including other income from investments in other companies. As a result, the net profit decreased by 15.9% to QR50.8 million and the comprehensive income fell by 29.1% to QR38.2 million.