01 May 2014
A substantial shrinkage in core earnings led Alijarah Holding (formerly National Leasing Company) report a 53% plunge in net profit to QR21.43mn in the first three months of this year. Total income shrank 38% to QR92.79mn with income from core business plummeting 40% to QR83.79mn and profit from investments and deposits by 2% to QR8.8mn, even as other income expanded 80% to QR0.2mn. Total expenses declined 31% to QR71.36mn with operating expenses dropping 30% to QR57.58mn, general and administrative costs by 34% to QR13.01mn and finance costs by 21% to QR0.77mn. Total assets were valued at QR1.55bn, comprising instalments and dues from customers worth QR676.14mn, cash and cash equivalents of QR572.91mn, property and equipment worth QR140.32mn and available-for-sale financial investments of QR107.39mn. Total equity stood at QR1.25bn on a capital base of QR494.8mn and earnings-per-share was QR0.43 at the end of March 31, 2014.
A substantial shrinkage in core earnings led Alijarah Holding (formerly National Leasing Company) report a 53% plunge in net profit to QR21.43mn in the first three months of this year. Total income shrank 38% to QR92.79mn with income from core business plummeting 40% to QR83.79mn and profit from investments and deposits by 2% to QR8.8mn, even as other income expanded 80% to QR0.2mn. Total expenses declined 31% to QR71.36mn with operating expenses dropping 30% to QR57.58mn, general and administrative costs by 34% to QR13.01mn and finance costs by 21% to QR0.77mn. Total assets were valued at QR1.55bn, comprising instalments and dues from customers worth QR676.14mn, cash and cash equivalents of QR572.91mn, property and equipment worth QR140.32mn and available-for-sale financial investments of QR107.39mn. Total equity stood at QR1.25bn on a capital base of QR494.8mn and earnings-per-share was QR0.43 at the end of March 31, 2014.
© Gulf Times 2014
