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.