Qatar Industrial Manufacturing Company Reports Net Profit of QR193,8 Million

Doha, Qatar Industrial Manufacturing Company disclosed its audited financial statements for the period ended on 31st December 2016.

A statement by the Company shows that the net profit is QRs 193,878,952 compared to net profit QRs 168,831,142 for the same period of the previous year.

Earnings per share (EPS) amounted to QRs 4.08 for the period ended 31st December 2016 to EPS amounted to QRs 3.55 for the same period of the previous year.

Adoption of the Board of Directors' resolution to distribute (30% of nominal shares) as dividend for the financial year ending December 31st, 2016.

HE Sheikh Abdulrahman bin Mohammed bin Jabor Al- Thani, Chairman of the Board, said that the company's assets increased to QR2,039,661,717, recording an increase of 10% from last year, and the total equity attributable to equity holders of the company reached QR1,554,552,601compared to QR1,488,570,961 in 2015.

The approval for raising of ownership limit for non-Qatari investors to 49% according to provisions of Qatari Law No. 9 of 2014.

Upon approval of the above, authorization to Chairman of the Board, to amend the Articles of Association in accordance with the 2015 Commercial Companies Law No 11 and the Rules and Regulations No. 4 of 2014.

Source: Qatar News Agency