Mubasher: QINVEST on Wednesday announced that it profits had declined to QAR 1.7 million, in line with expectations, for the first quarter of 2018.
Revenues of Qatar's leading private investment group recorded QAR 73.1 million in Q1-18, resulting in operating profits of QAR 25.4 million, according to the company’s statement to the Qatar Stock Exchange (QSE).
“While the first quarter of 2018 saw headwinds in the region, the diversified nature of the group has allowed us to capitalise on more favorable global market conditions,” Tamim Hamad Al‐Kawari, CEO of QINVEST, commented.
Meanwhile, the group maintained a strong liquidity position with a healthy capital adequacy ratio of 25.8% for the three-month period ended 31 March 2018.
“We started 2018 with an active investment book and a healthy pipeline of deals. We will continue to invest selectively across different sectors and markets where we feel there are opportunities for growth, particularly in international real estate, murabaha and equity investments, and funds,” Al‐Kawari added.
By the end of 2018’s first three months of 2018, the group’s overseas assets stood at QAR 4.509 million.
