Doha – Mubasher: Gulf International Services Company posted on Wednesday net losses of QAR 20.9 million in the fourth quarter of fiscal year 2015.
Annual profit reached QAR 801.4 million last year, 43.2% down from QAR 1409.8 million in 2014.
The company attributed the slump in annual profit to lower revenues after the oil crisis arose.
Earnings per share slipped to QAR 4.31 last year from QAR 7.59 in 2014.
The Qatar-listed company’s board of directors recommended cash dividends at 10% of the share’s par value or QAR 1 per share. The proposal will be introduced in the general meeting due to be held on 2 March.
Gulf International earlier reported a rise of 5.2% in net profit of the first nine months of 2015, reaching QAR 822.3 million.
