Aamal Company

Home: Latest News

Latest News

Excellent start 2010 with 55% revenue growth
	Aamal Company QSC (Aamal), one of the GCC’s fastest growing diversified conglomerates announced its first quarter financial results ended 31st of March 2010. Financial Highlights -First quarter company revenue up 55% to QAR 268.2m (Q1 2009: QAR 173.3m) - Gross profit up 10% to QAR 86.6m (Q1 2009: QAR 78.6m) - Net profit before fair value gains on investment properties up 13% to QAR 56.6m (Q1 2009: 50.1m) - Net assets up 4% to QAR 5.0bn (Q1 2009:4.8bn) These results have shown strong growth compared to the same period last year. Considerable progress has been made at Aamal exceeding the set budget and delivering an increase of 55% in revenue to QAR 268.2m compared to the same period of last year, an increase of 13% in profit before value gains to QAR 56.6m and an increase of 4% in net assets to QAR 5.0bn. In line with Aamal’s strategy for diversification into new, high growth revenue streams to support the wider industrialisation of the Qatari economy; the beginning of 2010 has seen the pace of development activity increase across all of Aamal’s four divisions but with a particular focus on two, Industrial Manufacturing and Managed Services.