Mubasher: Aamal Company on Monday posted a 4.7% year-on-year profit drop for the third quarter of 2018.
Net profits amounted to QAR 336.3 million in Q3-18, compared to QAR 352.9 million in Q3-17, according to the company’s statement to the Qatar Stock Exchange (QSE).
Earnings per Share (EPS) recorded QAR 0.53 for the three-month period ended September, from QAR 0.56 for the same period of the previous year.
Group revenue fell 23.7% to QAR 953.1 million in Q3-18, versus QAR 1.25 billion in the same period of the prior year.
The drop comes due to the reclassification of two business entities within the Industrial Manufacturing segment from subsidiaries to joint ventures from 1 April 2017.
For the first half of 2018, the company’s net profit declined 4.8% to QAR 228.8 million, from QAR 240.4 million in H1-17.
By 09:47 am Qatar time, Aamal’s stock stood at QAR 9.53.
