Aamal Company Q.P.S.C. (‘Aamal’)
Financial Results for the nine months ended 30 September 2019.
Aamal reports net profit of QAR 259.6m and Earnings Per Share of QAR 0.04
- Group revenue down 0.8% to QAR 945.3m (Q3 2018: QAR 953.1m),
- Gross profit down 5.0% to QAR 337.1m (Q3 2018: QAR 354.9m)
- Net underlying profit margin decreased by 5.4 percentage points to 22.5% (Q3 2018: 27.9%)
- Net profit before share in results of associates and joint ventures, accounted for using the equity method (“net underlying profit”), down 20% to QAR 212.3m (Q3 2018: QAR 265.5m)
- Share in results of associates and joint ventures accounted for using the equity method decreased 35% to QAR 47.3m (Q3 2018: QAR 72.8m)
- Total Company net profit down 23.2% to QAR 259.6m (Q3 2018: QAR 338.3m)
- Reported earnings per share down 20% at QAR 0.04 (Q3 2018: QAR 0.05)
- Net investment in capital expenditure decreased by QAR 226.1m to QAR 32.3m (Q3 2018 QAR 258.4m), owing to a number of property acquisitions made by Aamal Real Estate in the prior year period.