Mazaya Net Profit Rises to QR16.20 million in First Half of 2018

August 14, 2018

Mazaya Qatar Real Estate Development Co. net profit Mounted to QR16.209 million, compared to QR13.45 million for the same period last year, while the company’s earnings per share recorded QR0.14, versus QR0.116 in the corresponding period of 2017.

The Group’s Comments:

It was noticed that the main activity of the company was suspended in the first half of 2018, and its revenues from leasing operations declined by 67% to QR12.45 million. The company received QR33 million in compensation for claims and had profits in the fair value of investments of QR5 million. On the other hand, Mazaya’s expenses increased by 31.7% to QR11 million, while its financing costs increased by 32.9% to QR23.3 million. As a result, the profit for this period increased by 20% to QR16.2 million.