Qatar's Nakilat Q2 Profit Declines 2.8%

 

The company made a net profit of 260.3 million riyals ($71.5 million) in the three months ending June 30, Reuters calculated from financial statements in lieu of a quarterly breakdown.

 

This was down from a profit of 267.8 million riyals in the same period of the previous year, but higher than the 227.9 million riyals which QNB Financial Services forecast Nakilat would make in the second quarter.

 

The decline in profit came despite a 1.6 percent increase in revenue to 938.8 million riyals, according to Reuters calculations.

 

Nakilat recorded a net profit in the first six months of 2016 of 500.3 million riyals, up from 490.2 million riyals in the corresponding period of last year, it said in a bourse statement.