(The Group's Comments) Aamal Net Profit Drops to QR 96.5 Million in the First Quarter of 2019

April 29, 2019

Profits: Aamal’s first quarter profit dropped to QR 96.6 million, a decline of 16.7%, compared to profit of QR 115.9 million in the same quarter of last year, while the company’s earnings per share reached QR 0.15 in this quarter, versus QR 0.18 in the corresponding period of 2018.

Revenues: The operating profit amounted to QR 87.7 million, compared to QR 85.8 million due to higher revenues of QR 13.5 million.

Profits declined for two main reasons: First is the decline in the company’s share in the results of companies invested in, by about QR 14 million. Second, is higher financing costs, which climbed by QR 6.8 million to QR 7.7 million in this quarter, compared to QR 900,000 for the first quarter of 2018.