QIMC achieves QR33.9m net profit in Q1

DOHA:  Qatar Industrial Manufacturing Company (QIMC), one of the leading small and medium industrial groups in Qatar, has reported a net profit of QR33.9m for the first quarter of this year ended March 31 (Q1 2019).

In a press statement, QIMC Chairman Sheikh Abdul Rahman bin Mohamed bin Jabor Al Thani has announced the company’s first quarter consolidated financial results of 2019. He said QIMC has achieved QR33.9m of profits during the first quarter of this year compared to QR50.8m for the same period in 2018, and earnings per share of QR0.71 in the first quarter of 2019 compared to QR1.07 for the same period in 2018.

Sheikh Abdul Rahman said the decline in the company’s net profit in the first quarter is due to the restructuring of operations by an associate and the decline in sales of a subsidiary.


Source from: The Peninsula