(The Group’s Comments) Qatari Investors’ Net Profit Drops to QAR 84.4 Million for the First Half of 2019

 

July 23, 2019

 

Profits: the profits of Qatari Investors Group amounted to QAR 84.4 million for the second quarter of 2019, a drop of 37.8%, compared to QAR 135.7 million for the corresponding period of 2018, while the company’s earnings per share reached QAR 0.07 in this half, versus QAR 0.11 for the corresponding first half of 2018. The company’s net profits for the second quarter of 2019 on the other hand fell from QAR 51.5 million, achieved in this period last year, to QAR 32.9 million for this year.

 

Comprehensive Income: Qatari Investors posted a revaluation gain of QAR 1.56 million through the statement of comprehensive income, compared to a gain of QAR 1.01 million for the same period of 2018.

 

Revenue: fell by QAR 75.2 million or 19.5% to QAR 310.2 million in the first half of 2019, compared to QR 385.5 million for the same period of 2018. Revenues are generated mostly from industrial activities, which account for 85% of the company’s total revenues, as well as maintenance and logistics revenues.

 

Revenue Cost: dropped by 15.2%, which means revenues decreased far more than their cost pressuring profit margins, and leading to a drop in the gross profit from QAR 216.2 million to QAR 166.7 million.

 

Other Revenues & Expenses: no significant changes in these statements except for a decrease in administrative and general expenses of QAR 1.6 million due to the reduction in employees cost, while financing costs climbed by QAR 5.8 million.