Zad Holding revenue rose 12% to QR175.89mn and compensation from government for the sale of subsidised flour by 13% to QR31.87mn, leading to a 12% jump in total revenue to QR207.77mn.
Zad Holding (Qatar Flour Mills) has reported an 18% jump in net profit to QR53.44mn in the first three months of this year on gains in sales and government compensation.
Revenue rose 12% to QR175.89mn and compensation from government for the sale of subsidised flour by 13% to QR31.87mn, leading to a 12% jump in total revenue to QR207.77mn, according to its financial statement filed with the Qatar Stock Exchange.
Direct costs grew slower at 9% to QR155.35mn, thereby helping the company report a 25% surge in gross profit to QR52.42mn. However, other income was down less than 1% to QR25.66mn.
General and administrative expenses rose 7% to QR12.96mn and selling and distribution costs by 25% to QR8.55mn; even as finance costs were brought down by 6% to QR3.14mn.
Total assets were valued at QR2.17bn, comprising current assets of QR0.49bn and non-current assets of QR1.68bn.
Total equity stood at QR1.42bn on a listed capital base of QR130.81mn and earnings-per-share was QR2.48 at the end of March 31, 2014.