QGMD loss widens 6% in Q1

09/05/2014 04:40 AST

Qatari German Company for Medical Devices' first-quarter net loss widened 6% year-on-year to QR2.81mn despite robust revenues. Revenue almost tripled to QR5.3mn and direct costs more than doubled to QR4.76mn. But the company made a gross profit of QR0.54mn compared to a loss of QR0.13mn, according to its financial statement filed with the Qatar Stock Exchange. Other income plunged 35% to QR0.05mn, whereas selling and distribution expenses rose 28% to QR0.41mn and general and administrative costs by 34% to QR2.31mn. This led to its operating loss widen 1% to QR2.13mn.

Finance costs surged 26% to QR0.68mn.

Total assets were valued at QR249.06mn, comprising current assets of QR33.79mn and non-current assets of QR215.27mn.

Total equity stood at QR173.19mn on a capital base of QR115.5mn and loss-per-share was QR0.24 at the end of March 31, 2014.


Gulf Times

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