Qatar Cinema Net Profit QR 4.2 Million

Qatar Cinema and Film Distribution Company has disclosed the semiannual financial statements for the period ending June 30, 2011. The reviewed financial statements for the period ending June 30, 2011 revealed a net profit of QR 4.2 million in comparison to QR 4 million for the same period last year. The Company’s Earning per Share (EPS) amounted to QR 0.82 as of June 30, 2011 versus QR 1.1 for the corresponding period in 2010. Qatar Cinema and Qatar Media Services LLC (Q.media) agreed last June to an acquisition deal worth nearly QAR2 billion after talks lasting more than 10 months. The acquisition deal sees Qatar Cinema’s capital rise from QAR 51,907,400 to QAR129,699,640 through the issuance of 7,778,324 shares valued at QAR10 per share. Q.media will own 60% of Qatar Cinema’s share capital after the acquisition.