DOHA: Aamal Company (Aamal), one of the fastest growing diversified companies in the region, reported a net profit of QR126.7m for the third quarter of 2014, up 18.2 percent compared to QR107.1m in Q3, 2013, while the net profit for the first nine months of 2014 reached QR296.6m, up 25 percent compared to QR237.2m earned during the same period last year, according to a press statement.
Aamal’s revenue for the third quarter of 2014 stood at QR505.1m, down by 10.8 percent compared to QR566.1m in the same quarter last year, while revenues for the first nine months of 2014 reached QR1.60bn, up 4.9 percent against QR1.52bn witnessed during the same period last year.
Earning per share (EPS) of the company amounted to QR0.21 in Q3, 2014, up 18.2 percent compared to QR0.18 in Q3, 2013.
Aamal Chairman Sheikh Faisal bin Qassim Al Thani said: “For the first nine months of 2014, Aamal has achieved high growth in its net profit by 25 percent and adjusted earnings per share excluding fair value gains on investment properties rose by more than 39 percent, an impressive performance. This is the result of our success over many years in managing and diversifying the Company to support and take full advantage of Qatar’s rapid economic growth and diversification.”
Underlying net profit margin (excluding fair value gains on investment properties and excluding share of profit of equity accounted for investments) for the nine-month period strengthened to 15.3 percent over 11.5 percent in the same period last year.
Sheikh Mohamed bin Faisal Al Thani, Vice-Chairman, said: “In 2014, Aamal has continued to achieve organic growth and develop new business, a good example being the recent announcement about the formation of Aamal Optical Supplies.” The Peninsula
