Mubasher: Qatar General Insurance and Reinsurance (QGRI) reported a 35.7% year-on-year profit drop for the fourth quarter of 2018.
The Qatari firm’s profits amounted to QAR 175.05 million ($48.38 million) during the three-month period ended last December, from QAR 272.09 million ($75.20 million) in the year-ago period, according to the company’s statement to the Qatar Stock Exchange (QSE) on Monday.
For the full-year 2018, QGRI’s profits fell 20.03% to QAR 245.81 million, against QAR 307.38 million in 2017.
Meanwhile, the QSE-listed firm’s revenues declined 2% to QAR 590.88 million last year, against QAR 604.75 million in 2017.
Earnings per share (EPS) registered QAR 2.81 in 2018, versus QAR 3.51 a year earlier.
QGRI’s board of directors recommended a cash dividend distribution of 10% of the share’s nominal value, or QAR 1 per share, for the last fiscal year.
The Qatari firm’s capital reaches QAR 875.07 million, distributed over 87.50 million shares, with a nominal value of QAR 10 a share.
During the first nine months of 2018, QGRI’s profits jumped 100.6% to QAR 70.76 million, from QAR 35.28 million in the prior-year period.
