Aamal Q2 profit falls 10%

EPS amounted to QAR 0.36 for the six-month period ended June


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.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2018 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Markets