Islamic Holding Makes Goes from Profit to a Net Loss of QR398.17 Thousand in Q3 2018

October 23, 2018

Islamic Holding Group net loss amounted of QR398.17 thousand, compared to a net profit of QR196.76 thousand for the same period last year, while the company’s loss per share amounted to QR0.07 for the period ended 30/09/2018, versus QR0.03 for the corresponding period of 2017.

The Group’s Comments:

Islamic Holding’s net operating profit declined by 19% to QR5.5 million, of which QR2.4 million generated from brokerage and commission income, while the company’s expenses fell 11.4% to QR5.94 million. As a result, the company went from profitable to a net loss of QR 398,000 versus a net profit of QR 197,000 and a comprehensive income loss of QR 245,000.