Widam Net Profit Falls 0.6% to QR79.65 Million in Q3 2018

October 18, 2018

Widam Food net profit amounted to QR79.65 million, compared to QR80.15 million for the same period last year, while its earnings per share amounted to QR4.42, versus QR4.45 for the corresponding period of 2017.

The Group’s Comments:

Widam’s revenues rose by 7.2% to QR 400.6 million in 9 months. Operating costs rose 22.8% to 720.9 million riyals. As a result, the company's loss increased by 50.3% to QR 320.4 million. Government support increased by 33.1% to QR 430.9 million. In contrast, general and administrative expenses increased by 8.6% to QR 40.5 million. After adding another QR 9.5 million, the net profit fell marginally to QR79.6 million.