Mubasher: Qatar Cinema and Film Distribution Company signed a new ten-year contract with Aspire Katara Hospitality.
The agreement will allow for operating four new film theaters, according to the company’s statement to the Qatar Exchange (QE) on Thursday.
Qatar Cinema and Film Distribution Company posted a 21.4% year-on-year drop in profits for the third quarter of 2018.
Net profits amounted to QAR 1.4 million in Q3-18, from QAR 1.8 million in Q3-17.
For the first nine months of 2018, Qatar Cinema’s profits declined 15.4% to QAR 6.3 million, compared to QAR 7.5 million in the same period of the prior year.
Earnings per share (EPS) recorded QAR 1.01 for the three-month period ended September, versus QAR 1.20 in the same period of the previous year.
Revenues retreated 4.5% year-on-year to QAR 12.6 million in the nine months of this year.
