2023-10-22 04:57:33
Doha – Mubasher: Muqdam Holding Group’s profits increased during the third quarter of 2023 by about 10.67% on an annual basis; According to a statement by the Qatar Stock Exchange yesterday, Saturday.
The company recorded a profit in the three months ending last September 30 of 7.26 million riyals, compared to 6.56 million riyals in profit for the third quarter of 2022.
In the first nine months of the current year, “Miqdam” achieved a profit of 22.92 million riyals, an increase of 8.22% compared to its level in the same period of the previous year, which amounted to 21.18 million riyals.
Earnings per share amounted to 0.297 riyals for the period ending September 30, 2023, compared to earnings per share of 0.282 riyals for the same period of the previous year.
The company’s board of directors explained that the group achieved growth in its operating profits. Before bank interest and depreciation, it amounted to 32.4 million dinars in the first nine months of the current year, compared to 24.9 million dinars for the same period of the previous year, an annual growth of 29.9%.
The improvement in operating profits came; The company’s ability to maintain revenue levels of 377.1 million riyals and reduce operational costs.
CEO Ihab Nasr explained that the group signed new contracts during the current year with a total value of 696 million riyals. The council also reviewed the total value of the contracts currently being implemented, amounting to 2.80 billion riyals, while the value of the remaining work amounts to about 1.73 million riyals.
As for the offers submitted and being negotiated with customers, they amounted to 3.08 billion riyals, and the expected award rate according to historical indicators ranges from 20% to 30%, and the customer retention rate reached 90%.
It is noteworthy that Miqdam’s profits increased in the first half of the current year by 7.13% to 15.66 million riyals, compared to a net profit of 14.62 million riyals during the same period in 2022.
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