(The Group’s Comments) Investment Holding
Net Profit Rose to QR 15.68 Million in Q1 2019
April 29, 2019
Profit: Investment Holding Group logged
profits of about QR 15.68 million by the end of the first
quarter, compared to QR 14.44 million for the same period of
last year, an increase of 8.6%, while its earnings per share
amounted to QR 0.19 in this quarter, versus QR 0.17 for the
corresponding period of 2018.
Revenues: dropped by 13.6% to QR 96.25
million in this quarter, compared to last year’s first quarter
QR 111.34 million. As a result, the gross profit fell by 18% to
QR 32.90 million in the current quarter, compared to QR 40.15
million for the same period of last year, while revenue to
revenue cost ratio stood still at 66%, identical to the first
quarter 2018.
Other Revenues: fell from QR 10.16 million in the
first quarter of 2018 to QR 6.32 million for the current
quarter, representing interest income and cash dividends.
Non-recurring Profits: During the current quarter,
Investment Holding revalued real estate investments and
generated a revaluation profit of QR 2.25 million. These profits
are of a non-recurring nature.
Comprehensive Income: Investment Holding recorded a
valuation profit for the first quarter of 2019 at QR 29.25
million, noting that the first quarter of 2018 did not include
any valuations.
|