(The Group’s Comment):
Gulf Warehousing Net Profit for 2019 Rises by 9.4% to QAR
249.1 Millions
Profits: Profits in 2019 rose to about 249.50 million riyals compared to
226.8 million riyals in 2018, with a surge of 9.82%.
Earnings per share from profit reached 0.425 riyals against
0.387 riyals for the equivalent period of 2018. As for the
fourth quarter earnings, however, they reached 68.02 million
riyals, against 61.1 million riyals for the same period in
2018, with an increase of 11.3%
The improvement
in profits resulted from the company’s recording
non-operational revenues of about 13.11 million riyals (of a
non-recurring nature), in addition to the profits of a real
estate valuation of 3.11 million riyals.
Operation
Profits: Despite the decline of revenues by 10 million, but the company's
operating profits realized a growth of approximately 5.0%
and recorded 332.91 million riyals at the end of the period,
as a result of the fall in sales costs by 13.2 million
riyals, in a way that led to an improvement in the profit
margins, despite the improvement of revenues from logistic
operations during the period reached 9.2 million riyals.
However, the revenues from freight operations decreased by
around 16.6 million riyals.
Comprehensive
Income: The Company recorded losses of
foreign exchange differences of about 401,000 riyals at the
end of the period without any evaluation differences for the
same period in 2018.
Cash
Distribution and Market Ratios: The Board of Directors recommended
to the General Assembly to distribute 20% of the nominal
value of the share (0.20) riyals as cash dividends for the
year 2019. The cash distribution represents about 47% of the
profit for the year, the dividend return per share is about
3.76%, the stock is currently traded at (PE) and it is 12.34
times.
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