Mubasher: Zad Holding Company (ZHCD) on Sunday posted a 108.9% year-on-year surge in its profits for the fourth quarter of 2017.

Profits reached QAR 51.42 million ($14.15 million) in Q4-17, compared to QAR 24.65 million ($6.77 million) in the same period a year earlier, according to the company’s statement to the Qatar Stock Exchange (QSE).

Year-on-year, the QSE-listed frim's profits jumped 18.3% to QAR 198.30 million during the full-year 2017 from QAR 167.61 million in the year before.

Earnings per share amounted to QAR 9.20 for the year ended on 31 December 2017 versus QAR 7.78 in the previous year.

The company’s board recommended distributing 65% in cash dividends, in addition to 5% in bonus shares.

By 10:20 am Qatar time, Zad’s stock led the market’s gainers adding 10% to QAR 89.10.