Doha - Mubasher: The financial statements of Qatar Oman Investment Company showed a decline in profits in the first quarter of 2017 by 18.73% year-on-year.

The company said in a statement to the Qatar Stock Exchange (QSE) on Tuesday that profits totalled QAR 9.58 million ($2.63 million) in Q1-17 compared to QAT 11.78 million ($3.23 million) in the same quarter of last year.

Return on equity (ROE) reached QAR 0.304 in Q1-17 compared to QAR 0.374 in Q1-16, as shown by the company’s statement.