ID :
161446
Wed, 02/16/2011 - 09:56
Auther :
Shortlink :
http://m.oananews.org//node/161446
The shortlink copeid
Qatar Oman Investment Discloses Preliminary 2010 Financials with QR 13.5 Million in Net Profit
Doha, February 16 (QNA) - Qatar Oman Investment Co. held its first board meeting for 2011 on Tuesday and discussed the financial Statements for the financial year ended on December 31, 2010, that reflect total revenue of QR 23,5 million in comparison to the revenue of QR 24,2 million for 2009 where the decline was QR 738 thousand which represents 3.5% .
According to early adoption of ( IFRS9 ), an amount of QR 5,087 million was recognized directly in retained earnings, that added to the net profit of QR 13,5 million. This decline in the net profit decreased the earning per share from QR 0.686 in 2009 to QR 0.451 per share for 2010.
On other hand, the equity increased to QR 330.7 million for 2010 from QR 317.6 million for 2009. The increase is QR 13.13 million represents 4% .
The Board of Directors decided to raise its recommendation to the General Assembly to approve the distribution of 5% cash dividends which representing 50 Dirhams per share in addition to distribution 5% Bonus share which representing 1.5 share, one share for every 20 shares.
They also discussed the budget which presented by the management and approved the content of the actual expenses of the budget which represents 63% increase over 2010 (QR 12 million).
According to early adoption of ( IFRS9 ), an amount of QR 5,087 million was recognized directly in retained earnings, that added to the net profit of QR 13,5 million. This decline in the net profit decreased the earning per share from QR 0.686 in 2009 to QR 0.451 per share for 2010.
On other hand, the equity increased to QR 330.7 million for 2010 from QR 317.6 million for 2009. The increase is QR 13.13 million represents 4% .
The Board of Directors decided to raise its recommendation to the General Assembly to approve the distribution of 5% cash dividends which representing 50 Dirhams per share in addition to distribution 5% Bonus share which representing 1.5 share, one share for every 20 shares.
They also discussed the budget which presented by the management and approved the content of the actual expenses of the budget which represents 63% increase over 2010 (QR 12 million).
