IQ achieved its highest first quarter revenue and net profit on record. The group recorded revenue of QR 4.0 billion, representing a year-on-year increase of 47.6% and a quarter-on-quarter increase of 3.9%. Net profit for the quarter was QR 2.1 billion, an improvement of 72.3% and 37.6% against last year and last quarter respectively. Quarterly EBITDA was QR 2.3 billion, an increase of QR 0.9 billion, or 68.7%, on the same period last year, and QR 0.5 billion, or 29.2%, over the last quarter.

Total assets as at March 31, 2011 were QR 31.3 billion, a decrease on last year of QR 0.7 billion or 2.1%. Closing cash and short-term deposits decreased by QR 2.1 billion, reflecting capital expenditures, loan repayments as well as distribution of the 2010 annual dividend.




Financial Results Q1, 2011