Salam International Net Profit Turns Net Loss of QR12.65 Million in First Half of 2018

August 01, 2018

Salam International Investment Ltd.’s net loss amounted to QR12.65 million in the first half of 2018, compared to a net profit of QR17.74 million for the same period in 2017, and its loss per share reached QR0.11, versus earnings per share of QR0.16 for the same period last year.

The Group’s Comments:

The total revenue of Salam International from activity and investment decreased by 7.4% to QR332.6 million in the first half of 2018, while its expenses increased by 10% to QR344.5 million, of which QR147 million went to employees’ costs, QR101.3 million for administrative and general expenses, and QR55.3 million as financing costs. As a result, the net profit turned into a net loss of QR12.65 million. There was a limited decline in the fair value, which led to a comprehensive loss of QR13.5 million.