Ezdan Net Profit Falls to QR103 Million in First Quarter of 2018

May 1, 2018

The net profit of Ezdan Holding Group amounted to QR103 million, compared to QR946 million for the same period of the previous year. The holding’s earnings per share recorded QR0.04 versus QR0.36 in the corresponding period of 2017.

The Group’s Comments:

The revenues of Ezdan Holding Group diminished by 69.7% to QR315 million in the first quarter of 2018. The high revenues achieved in the corresponding period last year were a result of the sale of investments and properties worth QR636 million. After adding other income and operating expenses of QR75 million, the operating profit shrunk by 64.6% to QR390.6 million. After deducting the general and administrative expenses of QR61 million, and the cost of financing of QR237 million, the result is a quarterly profit of QR103.3 million. The comprehensive income decreased to QR80.6 million.