DOHA: Aamal Company yesterday announced its financials for the first six months ended June 30, 2014. The company reported a net of QR169.9m, up 30.6 percent compared to QR130.1m for the corresponding period in 2013.
However, gross profit of the real estate major stood at QR246m during the H1, 2014, up 19.2 percent compared to QR206.3m for the same period in 2013. Earnings per share (EPS) of the Group jumped up 22.7 percent at QR0.27 as on June 30, 2014 against QR0.22 a year earlier.
Where as revenues of the Group, claiming to be one of the fastest growing diversified companies in the GCC region, crossed a billion marks, which increased by 14.2 percent to QR1.1bn in H1, 2014 from QR959.6m in H1, 2013.
Net investment in capital expenditure declined to QR38.7m down by over 52 percent against QR81.9 in H1, 2013, the majority of which was driven by Advanced Pipes and Casts Company and Aamal Readymix’s upgrade of its fleet, said a statement issued by the company. Sheikh Faisal bin Qassim al Thani, Chairman of Aamal Company, said: “I am pleased to report outstanding H1 results, with net profit growing by 30.6 percent and total revenue growing by 14.2 percent compared with the corresponding period in 2013.”
He added: “This highly impressive growth is evident in almost all of Aamal’s divisions, complemented by a 22.7 percent rise in EPS. Aamal’s continued profitable results and sustainable growth helps us to reinforce our leading market position and allows us to capitalise on the opportunities that arise.”
THE PENINSULA
