Al Khaleej Takaful’s profit falls 26% in Q2

Net profits amounted to $527,400 in Q2-18

  

Mubasher: Al Khaleej Takaful Insurance (AKHI) on Monday posted a 25.6% year-on-year decline in its profits for the second quarter of 2018.

Net profits amounted to QAR 1.92 million ($527,400) in Q2-18, compared to QAR 2.58 million ($708,700) in Q2-17, according to the company’s statement to the Qatar Stock Exchange (QSE).

For the first half of 2018, the Qatari insurer's net profits tumbled 52.9% year-on-year to QAR 7.75 million.

Earnings per share (EPS) amounted to QAR 0.30 for the six-month period ended June, from QAR 0.64 in the same period of the prior year.

It is worth noting that AKHI’s net profits dropped 58% to QAR 5.83 million in Q1-18, versus QAR 13.87 million during Q1-17.

By the end of Monday’s session, AKHI’s stock grew 2.69% at QAR 11.09.

Source: Mubasher

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