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(The Group’s Comments) Qatar Cinema’s Net Profit Drops
to QAR 4.32 Million for the First Half of 2019
July 29, 2019
Profits: amounted to QAR 4.32 million for the
first half of 2019, compared to QAR 4.72 million for the same
period of 2018, a decrease of 8.5%, while its earnings per share
reached QAR 0.069 compared to QAR 0.075 for the same period of
last year. Qatar Cinema & Film Distribution Co made a profit of
QAR 1.18 million in profits during the second quarter of this
year, compared to QAR 1.99 million for the corresponding quarter
of 2018.
Comprehensive Income: the company
recorded an estimated QAR 1.15 million in valuation profits,
compared to QAR 3.93 million for the same period in 2018.
Revenues: operating revenues increased by
13.2% to QAR 3.51 million in this first half, compared to QAR
3.10 million for the same period of 2018, which enabled the
company to reduce the total profit deficit (revenues - costs) to
QAR 619,000 compared to QAR 944,000 for the same period of 2018.
Real Estate revenues amounted to QAR 8.1, a decrease of 4.7%
compared to QAR 8.5 for the corresponding period of 2018, The
company's revenues from dividends decreased by about QAR 800,000
to reach QAR 1.2 million, while other revenues increased by QAR
1 million.
Qatar Cinema & Film Distribution Co. reversed the provision for end
of service indemnity of QAR 900,000, which had a positive effect
on revenues. In contrast, the implementation of Standard No. 16
had an effect on the company's income statement by increasing
depreciation and amortization expenses by about QAR 411,000.
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