Gulf International Services Net Profit Rises 116.4% to QR34.24 Million in 1^st Half of 2018

August 06, 2018

Gulf International Services’ net profit doubled to QR34.24 million, compared to QR15.82 million for the same period last year, while its earnings per share amounted to QR0.18, versus QR0.09 for the same period in 2017.

The Group’s Comments:

Gulf International Services' gross profit increased by 13.2% to QR221.6 million for the first half of 2018, while the company’s other revenues increased by 53.3% to QR32.8 million. On the other hand, expenses decreased by 1.9% to QR127.7 million, and net financing costs increased by 51.7% to QR92.4 million. As a result the net profit increased by 116% to QR34.2 million in this period. After subtracting a limited decline in fair value of investments, the comprehensive income amounted to QR33.2 million.