Al Khaleej Takaful Net Profit Drops to QR8.8 Million in First Quarter of 2018

April 30, 2018

The net profit of Al Khaleej Takaful amounted to QR5.83 million in the first quarter of 2018, compared to QR13.87 million for the same period last year. The company’s earnings per share recorded QR0.23 in this first quarter, versus QR0.54 for the corresponding period of 2017.

The Group’s Comments:

Al Khaleej Takaful’s net surplus increased in the first quarter by 11.1% to QR41 million. This quarter’s net surplus increased to QR24.8 million, adding it to the previously accumulated surplus, the result is an increase in the surplus to QR26.4 million. After deducting other expenses, the surplus of income over expenses doubles to QR16.8 million, compared to QR3.1 million for the corresponding period of 2017, while the gross income from investments declined by 37.2% to QR14.5 million, and expenses dropped slightly to QR8.7 million, the net income decreased by 58.3% to QR5.8 million.