29 April 2014
Qatar Industrial Manufacturing Company (QIMC) has reported a 14% increase in net profit to QR46.02mn in the first three months of this year.
Qatar Industrial Manufacturing Company (QIMC) has reported a 14% increase in net profit to QR46.02mn in the first three months of this year.
Sales rose 3% to QR84.46mn, while cost of sales grew slower at 2% to QR66.91mn; resulting in a 7% gain in gross profit to QR17.55mn, according to its financial statement filed with the Qatar Stock Exchange.
Its share of results from 'equity-accounted investees' surged 24% to QR32.03mn and income from investments by 24% to QR10.08mn; even as other income fell 21% to QR1.83mn.
General and administrative expenses rose 28% to QR13.18mn and finance costs by 42% to QR0.64mn.
Total assets were valued at QR1.68bn, comprising current assets of QR0.27bn and non-current assets of QR1.41bn.
Total equity stood at QR1.5bn on a capital base of QR475.2mn and earnings-per-share was QR0.97 at the end of March 31, 2014.
© Gulf Times 2014
