(The Group’s Comment): Mazaya Real Estate Development Company Net Profits Rises By 139% To QAR 18.30 Million in the 3^rd. Quarter 2019

Ø  Profits: The company’s profits for the 9 months period of 2019 amounted QAR 18.3 million versus QAR 7.7 million. Earnings per share amounted QAR 0.016 versus QAR 0.007 for the same period of 2018 while the 3^rd. quarter profits amounted QAR 13.6 million compared to QAR 31.8 million for the same period of 2018.

Ø  It is worth-mentioning that the 2018 financial statements are revised.

Ø  Operational Revenues: Registered an approximate financing revenue of QAR 55.6. This clause is shown for the first time in the company’s results without any relevant notes. In contrast, the clause of  Compensations for Claims for the same period last year 2018 amounted QAR 40 million (representing claims for the delay of the project made by the contractor where the company has achieved QAR 40 million for that period) is not repeated for this period.

Ø  No existing enough notes and clarifications on the company’s financials to be elaborated on.