The financial statements of Miqdam Group Holding Company showed an increase in the company's profits in the first half of this year by 7.2% on an annual basis; To reach 13.3 million riyals.
Miqdam Holding Company is one of the newly listed companies in the Qatar Stock Exchange's Startup Index.
The company's financial statements also showed a 34.4% increase in revenues to 99 million riyals, compared to a 34.5% decrease in the gross profit margin, under pressure from an increase in operating costs by 51%.
The company's profitability supported not recording a loss in the value of financial assets compared to a loss of 750 thousand riyals in the corresponding half of last year.
The company's receivables rose to constitute 60% of the total assets, in addition to the increase in the ratio of loans to shareholders' equity from 27% to 31% at the end of June 2021.
