Widam Food generates QAR 108m profit in 2018

Mubasher: Widam Food Co. on Monday reported a 0.3% year-on-year profit growth in 2018, registering QAR 108.39 million versus QAR 108.08 million.

Earnings per Share (EPS) amounted to QAR 6.02 for the 12-month period ended last December, compared to QAR 6 in the prior fiscal year.

Widam said that its board of directors proposed a 30% cash dividend distribution of 30% of the nominal share value, equaling QAR 3 per share, for the shareholders.

The Qatari firm’s revenue hiked 4.07% to QAR 515.92 million last year, against QAR 495.74 million in the year before.

Widam said that the government’s financial support jumped by 31.3% to QAR 565.73 million in 2018, up from QAR 430.85 million in the year before, which contributed to boosting the firm’s profitability.

The QSE-listed company previously reported a profit of QAR 79.65 million in Q3-18, compared to QAR 80.15 million in Q3-17.

By the end of Monday’s session, Widam Food’s stock went down 10% at QAR 68.40.

Mubasher Contribution Time: 28-Jan-2019 11:40 (GMT)
Mubasher Last Update Time: 28-Jan-2019 11:40 (GMT)