The Group Securities: Weekly Report on QSE Performance, 22-26 Jan 2017

 

On the back of the companies release of their financial statements for 2016, the general index managed to break through the barrier of 10,000 points, though it slipped down below the same a short while afterwards as result of the weak results unveiled by some companies. As a matter of fact, Al-Ijarah recommended the distribution of QR 0.5 as cash dividend.  Qatar Investors Group logged a 10% profit and order the distribution of QR 1 cash and 5% as bonus shares. In a nutshell, total trading volumes declined by 15.1% to QR1364.7 million, while general index increased by 57 points to the level of 1099 points.  Total capitalization hiked by QR2.5 billion to the level of QR588.4 billion. The Group reviews QSE performance in this week with illustrative charts combined with corporate business news, and a list of the affecting economic factors.

Corporate News:

1-- Islamic Holding Group's net profit is QR 4.1 million compared to QR 6.1 million for the same period of the previous year. EPS amounted to QR 0.72 compared to QR 1.53 for the same period of the previous year. The Board of Directors also proposed a dividend of 10% in cash per share. Islamic Holding Group's net operational income declined by 15.2% to QR12.8 million in 2016, including QR 10.6 million as brokerage fees. Expenses flatlined at the level of QR 8.7 million, with marginal decline. As result, the net profit posted this year amounted to QR4.1 million, down by 33% from the previous year.

 

2-- Qatar National Cement's net profit is QR 475.1 compared to QR 463.5 for the same period of the previous year. Earnings per Share (EPS) amounted to QR 8 against QR 7.80 for the same period of the previous year. Qatar National Cement's total income settled at QR473 million in 2016, slightly down compared to the previous year; while other sources of income increased to QR 41.9 million. Expenses went up to QR 46.5 million. Adding the company’s share of profit from other companies worth QR 6.7 million, then the company's profit of this year rises 2.5% to QR 475.1 million, while comprehensive income remains at the level of QR 470.3 million.

 

3-- Qatar International Islamic Bank (QIIB) disclosed its financial statements for the period ended on 31.12.2016 the statements show that the net profit is QR 784.8 Million Compared to net profit amounting to QR 784.2 Million for the same period of the previous year.

Earnings per Share (EPS) amounted to QR 5.18 for the period ended December 31, 2016 to EPS amounted to QR 5.18 for the same period of the previous year.

The Board of Directors recommends a dividend 40% of issued Capital (QR 4.0 per Share).

 

 4-- Qatar Insurance Company's net profit amounted to QR 1.03 billion compared to QR 1.04 billion registered last year.The board recommended Cash Dividends )%15) from the share par value, i.e. after obtaining the necessary approvals from respective governing bodies. QIC's total income declined 3.3% to QR1.75 billion in 2016, including QR 843.7 million as net outcome of subscription to the company's shares, QR 811.5 million as investment revenues. Operational and administrative expenses fell by 6.3% to QR 684.9 million. As result, profit attributable to shareholders fell by 1 % to QR 1034 million.  

 

 

5-- Doha Bank net profit of QR. 1,054 million compared QR. 1,354 million in the previous year. Earnings per Share (EPS) amounted to QR 3.23 compared to QR. 4.58 in the previous year. The Board of Directors is recommending to the Ordinary General Assembly to distribute cash dividends to the shareholders for QR 3.0 per share. Doha Bank's net operational income declined by 2.3% to QR 2.75 billion in 2016, including QR2.07 billion as interests and QR 459.8 million as net fees and commission.  Expenses and losses increased by 16.8% to QR1.7 billion, including QR516.3 million as staff costs, QR 480.2 million lost as result of negative change in the value of investments, and QR468 million as loan loss. As result, net income declined by 22.1% to QR1052.8 million. Comprehensive income increased to 1214.9 million as result of a positive change in the fair value.

 

6-- Net profit for Alijarah Holding in 2016 amounted to QR 5.17 million compared to a net loss of QR 88.15 million in the previous year.  Earnings per share reached QR 0.10 versus a loss of QR 1.87 per share in 2015. The Board of Directors recommended distributing dividend of half Riyal per share. Total revenues of Alijarah Holding in 2016 increased by 13.9% to QR 206.1 million, of which QR 205.4 million from its main activities. Total expenses decreased by QR 19.7% to QR 224.3 million. As a result, the company recorded an operating loss of QR 18.1 million compared to a loss of QR 98.3 million in the previous year. There was a net finance revenue of QR 23.3 million turning the loss into a net profit of QR 5.2 million.

 

7-- Qatari Investors Group net profit in 2016 amounted to about QR 277 million compared to a net profit of QR 251.95 million in the previous year.  Earnings per share stood at QR 2.23 versus QR 2.03 in 2015. The Board of Directors recommended distributing a dividend of one Riyal per share.Total income of Qatari Investors Group in 2016 rose  9.5% to QR 444.7 million, of which QR 403 million   profit from its main activity. The general and administrative expenses dropped 15% to QR 71.8 million   while the funding costs decreased by 9.1% to QR 50.6 million and distribution expenses stabilized at QR 9.1 million with a limited decline. However, there were losses in the fair value worth QR 36.3 million. As a result, the net profit amounted to QR 277 million by an increase of 9.9% above profits of the previous year.  

 

8-- Qatar Cinema & Film posted net profit of QR 4.30 million compared 14.33 for the same period of the previous year. E/P amounted to QR 0.68 compared to QR 2.28 for the same period of the previous year. Qatar Cinema's operational loss hit QR 880.000 in 2016, compared to one million profit registered last year. Others sources of income settled at QR 19.1 million, including QR17.4 million as rental revenues. Public and administrative expenses slightly declined to QR4.1 million. The company incurred losses as result of the depreciation of properties and investments amounted to QR4.48 million, QR 4.5 million loss as result of decline in the available for sale securities, and financing cost worth QR 906.000. As result, this year's net profit amounted to QR 4.3 million, compared to QR 1.43 million last year; and comprehensive income increased to QR 9.7 million as result of reevaluation of the fair value of investments.

 

Economic Developments

1-- Banks consolidated balance sheet for December was released showing a rise in total assets compared to November by about QR 70 billion to stand at QR 1271 billion.  The total domestic public debt, including bonds, increased by about QR 30 billion to QR 428 billion while the total domestic private sector deposits rose by QR 4.5 billion to the level of QR 438 billion.

2--Last week, Opec oil prices declined by 1.46 to $ 52.91 per barrel.

3-- Last week, Dow Jones index gained 167 points to reach the level of 20094 points. US Dollar exchange rate fell to the level of 115.13 yen, and $ 0.7 per Euro. Gold price decreased by 19 dollars to the level of $ 1191 per ounce.