Doha – Mubasher: Zad Holding Company on Sunday announced a decrease of 4.7% in its profits for the first quarter of 2017, compared to the first quarter in 2016.

The company’s profits reached QAR 49.25 million ($13.51 million) in Q1-17, compared to QAR 51.67 million ($14.18 million) in Q1-16, according to a filing to the Qatar Stock Exchange (QSE).

Earnings per share (EPS) reached QAR 2.29 in Q1-17, compared to QAR 2.4 in the same quarter of the year before, the statement added.

The Qatari company had previously reported a growth of 4.6% in its profits reaching QAR 167.6 million in 2016, compared to QAR 160.3 million in 2015.