Mubasher: Qatar Insurance Company (QIC) on Tuesday announced a drop of 65% year-on-year in its profits for the fourth quarter of 2017.
The company’s total profits slid to QAR 113.47 million ($31.17 million) in Q4-17 from QAR 323.18 million ($88.78 million) in the same period a year earlier, according to the company’s statement to the Qatar Stock Exchange (QSE).
In 2017, QIC’s profits tumbled 59.6% to QAR 417.59 million from QAR 1.03 billion the year before.
The earnings per share (EPS) dropped to QAR 1.28 in December 2017 versus QAR 3.73 in the same period in 2016, according to the statement.
Meanwhile, QIC’s total assets jumped 21% to QAR 34.7 million in December 2017.
The QIC’s board recommended cash dividends of 15% from the share par value amounted to QAR 1.5 a share, in addition to 3 bonus shares for each 20 shares.
