Doha: Qatar Fuel Company (WOQOD) announced that its earnings during the nine months ended 30 September have increased, bringing the company's net profit to QR 884.8 million.
WOQOD CEO Eng. Ibrahim Jaham Al Kuwari said that the Board of Directors reviewed and approved the financial results achieved during this period. The Board also examined current and future projects and other related issues and gave his directives.
The companyy's net profit (after excluding minority interest) amounted to QR 884.8 million, increased by QR 28.7 million or 3.36 % as compared to the same period of 2014, said WOQOD in a press release today.
Earning per share (EPS) amounted to QR 10.48 as compared to QR 10.14 for the same period of last year, the statement added.
Eng. Al Kuwari added that WOQOD is currently involved in implementation of more than 19 projects under construction and 3 projects in design and approval stages, in addition to 6 projects in tendering process. WOQOD is currently coordinating with the Ministry of Municipality for the allocation of 25 slots of land for establishing new projects in different areas of the State of Qatar in addition to new expansions, Fahes and Sidra new projects.
He said that following the inauguration of 4 petrol stations during the year of 2015, (Al Wajba, Lejmelia, Ktayfia, and Al Wakra), 7 petrol stationsare currently close to completion and expected to be opened by the end of 2015. 12 petrol stations in in different areas are in early stages of construction and expected to be opened in 2016, he added.
Eng. Al Kuwari pointed that four new projects for establishing C-Store (Sidra) are in design and approval stages. They are expected to be completed by the end of 2015 or early 2016.
After the inauguration of Al Wakra Fahes in September,2015 , five new centers are currently in design stages and expected to be commissioned in 2016, he said adding that new inspection lines will be established in existing petrol stations wherever spaces are available.
With regards to LPG sales Eng. Al Kuwari said that they grew by14 % during this period and the number of cylinders refilled and sold reached 1.23 million units for metal and 484 thousand units for Shafaf.
CNG sales increased by 53% during this period, and the number of customers using this product is increasing significantly, he added.
He said that during this period, total volume sales of petroleum products (Diesel, Gasoline and Jet Fuel) reached 2.2 million liters with an increase of 13.9% compared to the same period last year.
QNA
