(The Group’s Comment) Aamal Net Profits Declines to QAR 257.8 Million in the 3^rd Quarter 2018

Ø  Profits: Net profits for the 9 months period ended 30 September 2019 declined by 23.3% to record QAR 257.8 million compared to QAR 336.3 million for the same period last year 2018. Earnings per share amounted QAR 0.04 versus QAR 0.05 for the similar period last year. The 3^rd quarter profits reached QAR 75.9 million compared to QAR 107.4 million of Q3 2018. The increase in depreciation and financing along-with the decline in the company’s share from profit of the associated companies resulted in the decline of the profitability.

Ø  Total profits: Total Profit during the period declined by 5% (QAR 17.9M) to reach QAR 337.1 million versus QAR 354.9 million attributed to the increase in the operating costs by QAR 10.0 million with the decrease in sales by QAR 8.0 million.

Ø  Operating profit: Operating profit declined by 12% from QAR 266.5 million to QAR 233.6 million as a result of the increased administrative and general expenses by QAR 4.8 million. The implementation of Standard 16 had its impact on the financing costs that increased by QAR 19.7 million. Also, other revenues decreased by QAR 7.6 million. Moreover, the results of the period witnessed a decline the Company’s share from the results of associated company by QAR 25.4 million.