ZAD Net Profit Increases to QR49.76 Million in First Quarter of 2018

April 29, 2018

ZAD’s net profit increased to QR49.76 million in the first quarter of 2018, compared to QR49.25 million for the same period of the previous year. The holding’s earnings per share recorded QR2.10, versus QR2.08 for the corresponding period in 2017.

The Group’s Comments:

Zad’s gross revenues increased by 20% to QR316.8 million in this first quarter, of which QR24.9 million were generated from government compensation. On another hand, operating costs increased by 31% to QR243 million, and the total profit decreased by 6% to QR73.7 million. General and administrative expenses rose by 3% to QR33 million, and other income doubled to QR12.2 million. As a result, the net profit settled at QR49.8 million, slightly higher than the corresponding period in 2017.