(The Group’s Comments) Ezdan’s Net Profit Rises 10% to QAR 509.1 Million in Q3 2019

Ø  Profits: amounted to about QAR 509.2 million, compared to QAR 463.5 million for the same period last year, an increase of 9.86%, while earnings per share reached QAR 0.019 versus QAR 0.017 for the corresponding period of 2018. As for the third quarter, Ezdan posted a profit of QAR 88.39 million, compared to QAR 41.09 million for the same period in the previous year.

Ø  Comprehensive Income: the company recorded losses of valuation of financial assets of about QAR 122.3 million in this period, compared to a profit of about QAR 680.4 million for the same period of 2018.

Ø  Operating Income from Key Operations: amounted to about QAR 858.2 million, compared to QAR 802.2 million for the same period in 2018, an increase of 7%, which was the result of the decrease of QAR 45.4 million in operating expenses (staff costs decreased by QAR 20 million and maintenance expenses by about QAR 10 million).

Ø  During this period, the company's revenues included QAR 58.2 million representing investment profits resulting from the sale of some of its investments in Qatar Exchange. Such sales as the company’s 363,000 shares or 4% in Qatar International Islamic Bank, and 211,000 shares or 10.5% in MediCare, as well as 2.41% or 22,000 shares in Islamic Insurance.

Ø  Financing Costs decreased by QAR 99 million, while General and Administrative Expenses dropped by about QAR 95 million, which helped reduce the company’s expenses and improve its profitability level.