Mubasher: Doha Insurance Group reported a 228% year-on-year profit hike in the fourth quarter of 2018.

The Qatar-based firm’s profits registered QAR 24.6 million ($6.8 million) in Q4-18, from QAR 7.5 million ($2.07 million) in the corresponding period in 2017, according to the company’s statement to the Qatar Stock Exchange (QSE).

During the full-year 2018, the company’s net profits jumped 42% to QAR 60 million, compared to QAR 42.2 million in the prior year.

Earnings per share (EPS) amounted to QAR 1.21 for the 12-month period ended 31 December 2018, versus QAR 0.84 in the prior year.

Doha Insurance Group’s board of directors recommended distributing a cash dividend of 8% of the share’s nominal value, or QAR 0.80 per share.

Over the first nine months of 2018, the Qatar-based insurance company’s profits rose 1.9% to QAR 35.39 million, against QAR 34.7 million in the corresponding period of 2017.