Amidst a 52% decline in operating profit to QR23.95mn, the company’s net share of results from ‘equity-accounted investees’ grew 30.26% to QR89.01mn.
“QIMC strives to achieve growth in return on capital by increasing profits and reducing operating costs as well as improving asset management,” its spokesman said.
Impairment of available-for-sale investments were cut down by 97.22% to mere QR0.24mn and finance costs by 33.97% to QR0.61mn.
The spokesman said QIMC is proud to contribute effectively to Qatar’s self-sufficiency through its diverse products such as building materials, chemicals, plastics, paper products and food.
Total assets amounted to QR1.86bn, comprising current assets of QR0.26bn and non-current assets of QR1.6bn at the end of June 30, 2017.
Total equity stood at QR1.6bn on a capital base of QR475.2mn and earnings-per-share was QR2.39 at the end of first half ended June 30, 2017.