Zad Holding profit up to QR63mn

Robust core earnings helped Zad Holding Company to report a 25% jump in its net profit to QR63.78mn in the first six months of this year. Operating revenue surged 90% to QR262.21mn and compensation from government for sale of subsidised flour by 7% to QR58.86mn. Thus, total revenue soared 67% to QR321.07mn, according to its financial statement filed with the Qatar Exchange. With operating cost gaining 68% to QR243.91mn, the company’s gross profit rose 62% to QR77.16mn. Other operating income gained 20% to QR77.16mn. eneral and administrative expenses rose 56% to QR27.30mn, selling and distribution costs by 59% to QR12.29mn and finance costs jumped about 91-fold to QR8.49mn. Total assets were valued at QR1.97bn comprising current assets of QR0.36bn and non-current assets of QR1.61bn. Total shareholders’ equity stood at QR1.28bn on a capital base of QR130.81mn and earnings-per-share was QR4.88 at the end of June 30, 2012. from gulf times.