(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.