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Widam Food Company has reported 12% jump in net profit to QR51.4mn during January-September this year despite widened gross loss on account of selling costs remaining substantially higher than earnings.
Although revenue grew 11% to QR342.88mn, cost of sales rose faster at 12% to QR553.39mn, leading to a 13% increase in gross loss to QR210.52mn, according to its financial statement filed with the Qatar Stock Exchange.
Government compensation grew 11% to QR290.04mn, even as other income fell 46% to QR1.45mn.
General and administrative expenses were up 6% to QR29.47mn; whereas finance costs fell 39% to QR0.11mn.
Total assets were valued at QR542.28mn, comprising current assets of QR493.33mn and non-current assets of QR48.95mn.
Total equity stood at QR254.6mn on a capital base of QR180mn and earnings-per-share was QR2.86 at the end of September 30, 2015.
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