Aamal Net Profit Drops 4.7% to QR228.9 Million in 1^st Half of 2018

July 30, 2018

Aamal’s net profit amounted to QR228.9 million, compared to QR240.4 million for the same period last year, while the company’s earnings per share reached QR0.36 in the first half of 2018, versus QR0.38 for the corresponding period of 2017.

The Group’s Comments:

Aamal’s total profit from activity declined by 20.6% to QR243.2 million in the first half of 2018, but the company generated other income of QR4.4 million. Expenses, on the other hand, rose by 10.5% to QR70.4 million. As a result, operating profit decreased by 30% to QR177.2 million. The share of other companies' results has doubled to QR53.9 million, and the cost of financing shrunk to less than QR1 million, resulting in a net profit decline of 4.8% to QR228.9 million.