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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.
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