(The Group's Comments) Aamal Net Profit Drops to QR
96.5 Million in the First Quarter of 2019
April 29, 2019
Profits: Aamal’s first quarter profit dropped
to QR 96.6 million, a decline of 16.7%, compared to profit of QR
115.9 million in the same quarter of last year, while the
company’s earnings per share reached QR 0.15 in this quarter,
versus QR 0.18 in the corresponding period of 2018.
Revenues: The operating profit amounted to QR
87.7 million, compared to QR 85.8 million due to higher revenues
of QR 13.5 million.
Profits declined for two main reasons: First is the decline in the company’s share in the results of
companies invested in, by about QR 14 million. Second, is higher
financing costs, which climbed by QR 6.8 million to QR 7.7
million in this quarter, compared to QR 900,000 for the first
quarter of 2018.
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