Doha – Mubasher: QInvest’s revenue for the first nine months of 2016 grew by 18% year-on-year to QAR 337 million ($92.5 million).
Operating profit for nine-month period rose 19% y-o-y to QAR 182 million ($50 million), according to a statement.
“Our results over the first nine months of this year and our overall performance over the last three years have come directly as a result of our strategy to build a diversified portfolio of investments, grow our assets under management and provide best in class products and advisory services to our clients across all of our business lines,” Chief Executive Officer of QInvest, Tamim Hamad Al-Kawari, said.
“We remain cautious in the face of continued market volatility and after conducting a thorough review of our portfolio, we have exited a number of higher risk financing investments at a significant profit and increased our risk buffers for the remaining portfolio.
“These profitable exits have enabled us to crystallise double digit returns in part of our balance sheet as well as build a strong cash balance to take advantage of future opportunities in a market where liquidity commands a premium,” Al-Kawari added.
