Financial Results for Year Ending
December 31, 2014
Solid business strategy and key project launches drive record revenue.
- • Record rental revenue: QR 1,369 mn, up 41.8% compared to 2013.
- • Other operating revenue grew 48.6% to about 65 mn versus 43 mn for the prior year.
- • An increase in gross profit to QR1, 574on compared to QR 1,195 mn in the prior year.
- • Double-digit net profit growth:QR 1.360 mn, up 27% compared to 2013.
- • Solid EPS growth: earnings per share raised to QR 0.51 compared with QR 0.40for 2013.
Operating Segment Results Highlights
- • The Residential and Commercial Property segment reported QR 1.114 mn in revenue for the year, 27.5% increase from the prior year 2013 and QR409 mn in segment profit, 2.4% increase over the prior year.
- • The Hotels & Suites segment posted QR 247 mn in revenue, 21% increase from the prior year period and QR 168 mn in segment profit, a decrease of about 26% increase over the prior year period.
- • The Malls segment posted QR106 mn in revenue, about 45% increase from the prior year period and QR59 mn in segment profit, 13% increase over the prior year period.
- • The investment segment made QR 724 mn in revenue comprising of QR 167mn in dividends from available for sale investments, QR270 in net gains on sale of available for sale investments, and QR 324 in share from the results of associate companies.
An Overview of Key Performance Indicators