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.
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