Aamal Q2 profit falls 10%

Mubasher: Aamal Company reported a 10.2% year-on-year drop in its profits for the second quarter of 2018.

Net profits amounted to QAR 113 million ($31.04 million) in Q2-18, compared to QAR 125.8 million ($34.55 million) in Q2-17, according to the company’s filing to the Qatar Stock Exchange (QSE).

For the first half of 2018, the company’s net profits declined 4.8% to QAR 228.8 million, from QAR 240.4 million in H1-17.

Earnings per share (EPS) amounted to QAR 0.36 for the six-month period ended June, versus QAR 0.38 in the same period of the prior year.

The group’s revenues fell 33% year-on-year to QAR 652.7 million in the period between January and June, according to the statement.

Meanwhile, net investment in capital expenditure increased by QAR 168 million during H1-18, compared to QAR 218.8 million in the same period a year earlier.

It is worth noting that profits of the industrial group grew 1.1% to QAR 115.8 million in Q1-18, compared to QAR 114.5 million during Q-17.

By 10:06 am Qatar time, Aamal’s stock declined 1.18% at QAR 10.11.