WOQOD Net Profit Increased to QR317.8 Million in First Quarter of 2018

April 30, 2018

Woqod’s net profit amounted to QR317.8 million in the first quarter of 2018, compared to QR204.7 million for the same period of the previous year. The company’s earnings per share recorded QR3.03 in this quarter, versus QR1.77 for the corresponding period in 2017.

The Group’s Comments:

The gross profit from Woqod’s activity increased by 16.4% to QR310.5 million in the first quarter, and general and administrative expenses dropped by 24.8% to QR100.2 million. As a result, the net profit increased by 55.1% to QR317.8 million, of which QR301.2 million was attributable to shareholders. It should be noted that there was a negative change in fair value of QR30.6 million, with a total income of QR271.6 million.