Tags
Higher cost of revenue and general and administrative expenses led Qatari Investors Group to report a 4% decline in net profit to QR173.86mn in the first nine months of this year.
Revenue rose 7% to QR429.69mn but, cost of revenue grew much faster at 19% to QR203.92mn, resulting in an about 1% fall in gross profit to QR225.77mn, according to its financial statement filed with the Qatar Stock Exchange.
Income from short-term deposits and savings grew almost 11-fold to QR0.95mn; rental income surged 92% to QR3.4mn and other income more than quadrupled to QR17.16mn.
However, income from equity-accounted investment fell 31% to QR13.23mn and investment income by 42% to QR0.39mn.
Net finance cost was up 6% to QR29.05mn and general and administrative expenses by 28% to QR56.05mn.
Total assets were valued at QR3.78bn, comprising current assets of QR0.84bn and non-current assets of QR2.94bn.
Total equity stood at QR2.22bn on a capital base of QR1.24bn and earnings-per-share was QR1.4 at the end of nine-month ended September 30, 2014.
QIMC
Qatar Industrial Manufacturing Company (QIMC) has seen a 4% drop in its third-quarter net profit to QR141.7mn compared with QR148mn in the same period last year.
Earnings per share amounted to QR2.98 in Q3 compared to QR3.12 for the same period in 2013, while the total shareholders’ equity reached QR1.55bn compared with QR1.4bn for the same period of 2013.
QIMC chairman Sheikh Abdul Rahman bin Mohamed bin Jabor al-Thani said the company expected to maintain the level of earnings per share despite the increase in share capital 20% for the year 2013. He expressed his sincere thanks and gratitude to HH the Emir, Sheikh Tamim bin Hamad al-Thani, HE the Prime Minister and Minister of Interior, Sheikh Abdulla bin Nasser al-Thani and the Government for the sustained support and assistance extended to QIMC.
QIIC
Islamic Insurance (QIIC) has posted a nine-month net profit of QR61.8mn, up 22% on QR50.6mn registered in the same period last year.
The results were announced by the company chairman Sheikh Abdullah bin Thani al-Thani after a meeting of the company’s board of directors here yesterday.
The earnings per share stood at QR4.13 at the end of the third quarter compared with QR3.38 in the same period last year.
Islamic Insurance CEO Ali Ibrahim al-Abdulghani (pictured) said the QIIC earned profits of QR10.88mn from “technical operations” at the end of the third quarter, which showed an increase of 58% compared with the previous year.
Premium income rose to QR180.8mn at the end of the third quarter compared with QR166.5mn in the same period last year.
There are no comments.
SPORT Saying goodbye is never easy, especially when you are saying farewell to those that have left a positive impression. That was the case earlier this month when Canada hosted Mexico in a friendly at BC Place stadium in Vancouver.
TECHNOLOGY Some 60mn primary-school-age children have no access to formal education
CULTURE Lekhwiya’s El Arabi scores the equaliser after Tresor is sent off; Tabata, al-Harazi score for QSL champions
ARABIA The Yemeni Minister of Tourism, Dr Mohamed Abdul Majid Qubati, yesterday expressed hope that the 48-hour ceasefire in Yemen declared by the Command of Coalition Forces on Saturday will be maintained in order to lift the siege imposed on Taz City and ease the entry of humanitarian aid to the besieged
ARABIA Some 200 teachers from schools across the country attended Qatar Museum’s (QM) first ever Teachers Council at the Museum of Islamic Art (MIA) yesterday.
ARABIA The Supreme Judiciary Council (SJC) of Qatar and the Indonesian Supreme Court (SCI) have signed a Memorandum of Understanding (MoU) on judicial co-operation, it was announced yesterday.
ECONOMY Sri Lanka is keen on importing liquefied natural gas (LNG) from Qatar as part of government policy to shift to clean energy, Minister of City Planning and Water Supply Rauff Hakeem has said.
