The Qatar Oman Investment Company (QOIC) has seen its profits in 2021 drop by more than a quarter when compared to the year-ago period, according to the official Qatar News Agency.
According to its disclosure on the interim financial statement for the 12-month period ending December 31, 2021, QOIC saw a net profit of QAR4.99 million ($1.84 million).
In comparison, its net profit was QAR6.7 million ($1.37 million) for the same period of the previous year.
This amounts to a drop in profits of around 25.5 percent.
The firm’s earnings per share (EPS) in 2021 amounted to QAR0.016 (around $.0044), versus an EPS of QAR0.021 (around $0.0058) for the same period in 2020.
The board of directors recommended the distribution of cash dividends of QAR0.01 (around $0.0027) per share.
QOIC was set up with the aim of investing its funds in all types of investment opportunities available in Qatar and Oman to maximize the shareholders’ returns, and contribute to the economic, commercial, and social development in both countries.
Its core function, according to the official website, is to create investment opportunities in Qatar and Oman, as well as to make attractive investment prospects available in association with its partners, governments, and investors in both countries.