Mubasher: Qatar Islamic Insurance Company (QISI) reported a 53.1% year-on-year profit drop in the fourth quarter of 2018.
QISI’s profits totalled QAR 5.54 million ($1.52 million) in Q4-18, down from QAR 11.8 million ($3.25 million) in the same period of 2017, according to the company’s financial results published on the Qatar Stock Exchange (QSE).
For the full-year 2018, the Qatari firm reported 1.7% profit increase to QAR 63.02 million, compared to QAR 61.94 in the prior year.
Earnings per share (EPS) registered QAR 4.2 in the fiscal year ended 31 December 2018, against QAR 3.5 a year earlier.
QISI’s board of directors recommended a cash dividend distribution of 35% of the share’s nominal value, or QAR 3.5 per share.
During the first nine months of 2018, the Qatari firm’s profits levelled up 14.6% to QAR 57.48 million, versus QAR 50.14 million in the year-ago period.
QISI’s stock went up 2.37% to close at 57.33 fils on Monday, after nearly 36,870 shares were traded at a turnover of QAR 2.11 million.
