(The Group’s Comments) Dlala Holding Net Profit Drops to QR 1 Million in Q1 2019

 

April 24, 2019

 

Profits: Dlala Brokerage & Investment Holding’s (Dlala) quarterly profits fell by 23% to QR 1 in the first quarter of 2019, compared to QR 1.3 million for the same period in 2018, while its earnings per share amounted to QR 0.04 in the quarterly period ended 31/3/2019, versus QR 0.05 for the corresponding period of 2018. In terms of comprehensive income, the company recorded profits from the assessment of financial investments of about QR 5.61 million in the first quarter of 2019, compared to a loss for the same period in 2018 of about QR 1.28 million.

 

Income: Operating income decreased by 20% to QR 7.7 million in the quarterly period ended 31/3/2019, compared to QR 9.58 million for the first quarter of 2018. This decline in revenues was due to the decrease in brokerage commission revenues which dropped by QR 2.15 million or by 36% to QR 3.85 million, compared to QR 6.00 million for the corresponding period of last year 2018.

 

Expenditures: Dlala reduced its expenses by about QR 1.52 million or 18%, but the decline in total revenues by QR 1.87 million led to a decline in profits in the end.

 

Accumulated Loss: The end of the first quarter of 2019 amounted to QR 53.2 million, accounting for 19% of the capital and about 25% of the shareholders' equity.