(The Group’s Comment) ZAD Holding Net Profit Rises to QAR 147.25 Million in the 3^rd Quarter 2019

Ø  Profits: The Company’s net profits for the 9 months ended 30 September 2019 amounted to QAR 147.25 million compared to QAR 147.0 million for the equivalent period 2018 with a similar earnings per share for both period of QAR 0.62. The 3^rd quarter profits stabilized at QAR 32.2 million equal to Q3 2018.

Ø  Revenues without government support: The Company is achieving its revenues through conducting various activities of which relates to importing wheat and manufacturing it to a variety of wheat-based products like spaghetti and bakeries. This is in addition to construction, contracting, managing industrial projects and the real estates. Period’s total operating revenues amounted QAR 1069.3 million versus QAR 948.5 million for the equivalent period last year, an increase of 12.7%. Government support extended to the company within the period amounted QAR 79.6 million versus QAR 78.8 million in the same period last year.

Ø  Total profit: Total profit (revenues – cost of revenues) increased to QAR 231.3 million versus QAR 207.5 million for the same period last year. Cost of revenues to revenues ratio for the period stood at 78.4% versus 78.1% last year’s ratio.

Ø  Revenues for the period included an amount of QAR 16.50 million representing reversal of provision “doubtful debts” to revenues which has positively impacted the profits of the period.