QInvest reports $48.7m operating profit for 2017

Qatar-based private investment group QInvest recorded revenues of $101 million and operating profits of $48.7 million according to its end of year results for 2017. Net profit amounted to $18.1 million while assets stood at $1.2 billion as of December 31, 2017. 

QInvest chairman Jassim Bin Hamad Al Thani cited “favourable global market conditions”, “an unleveraged balance sheet” and “prudent management of risk” as key factors in the positive results.

The group maintained a capital adequacy ratio of 26% over and above the regulatory requirement of 10.5% along with a liquidity position of $120 million.

In addition, QInvest announced its intention to adopt the IFRS 9 accounting standard to reduce volatility from its reported results.

QInvest chief executive Tamim Hamad Al-Kawari said the group has “structured new investment opportunities across a number of different asset classes, with a particular focus on the international real estate market, debt and equity investments, and funds”.

©2018 funds global mena

Related Articles