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FINANCIAL NEWS
Gulf Intl Services Q1 revenue hits QR15mn
20 Apr 2017
(MENAFN) Gulf Intl Services (GIS), the major services group in Qatar has registered revenue of QR617mn and a net profit of QR15mn for the first quarter of this year.
However, the first quarter performance was impacted by the catering segment, which experienced discharge of some of its main deals amid the period.
Meanwhile, the drilling segment continues to face difficulties due to reduction on unearned days of rigs in ops, which affected the group’s revenue.
In addition, cash position remained strong with closing cash of QR1.2bn through all group firms as at March 31, this year, after 2016 dividend declaration of QR1 per share.
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