(The Group’s Comment) Qatar Cinema & Film Distribution Company declines by 12% to QAR 5.59 million in the 3rd Quarter 2019

 

Profits: mounted nearly QAR 5.60 million for the first 9 months of 2019 compared to QAR 6.34 million for the same period last year 2018, a drop of 11.67%.  Earnings per share mounted QAR 0.09 versus QAR 0.11. The 3rd quarter profits recorded QAR 1.28 million versus QAR 1.62 million for the same quarter last year 2018.

 

Comprehensive Income: the company recorded assessment profits of QAR 1.11 million versus QAR 6.98 million for the same period last year 2018.

 

Revenues: Operating revenues has increased by 10.0% to record QAR 5.17 million compared to QAR 4.70 million and enabled the company to reduce the deficit in the total profit. (Revenues – Cost of Revenues) amounted QAR 910 thousand compared to QAR 10.50 million for the same period 2018. However, the revenues of the real estate activity amounted to QAR 12.21 million versus QAR 12.60 million declining by 3.1%. The company’s revenues from distribution of dividends has reduced by QAR 800 thousand to reach QAR 1.2 million. In contract, other revenues has increased by QAR 1.0 million.

 

The company has reversed the provision for end of service benefits by QAR 900 thousand which has positively impacted the revenues. In contrast, the company’s implementation of standard 16 had its impact on the income statement by increasing the expenses of depreciation and amortization of QAR 620 thousand.