Half year financial results
Aamal Company Q.S.C Board of Directors has approved the half year financial results ending 30th June 2008 at the board of Directors meeting which has took place on 20th July 2008 showing good results and strong financial position.
The results has shown a positive growth compared by the same period last year where an increase in net profit by % 243 to reach QR 219 million, also an increase in the earning per share by 241% to reach QR0.58 in addition to an increase the revenues by 30% to reach QR 327 million.
Aamal Board of Directors stated that the management will deploy these profits to the benefit of the shareholders and to maintain sustainable growth. They also exclaimed that these outstanding results are the mere reflection of the proper strategy the company is following and the commitment and efforts of the employees. Aamal is committed to develop its current activities and further expand its operations to attract new investments on the local & regional level which leads to positive effects on the local community.
As for the company future projects, Aamal has announced that Aamal Cement Industries will start production before the end of 2008. The construction for cables factory “ Senyar Company Qatar holding” is expected to start early 2009 with expected production capacity up to 30,000 tons/year, Senyar Company Qatar Holding considered one of a kind in the region with a strong partnership with Al Swaidi Cables with initial cost 150m dollar.
Also, the company has recently signed an MOU with Masraf Al Rayan to establishing a new private shareholding company called “C-San Holding” with a paid up capital 10 million Qatari Riyals.
On the other hand, Mr. Tarek Mahmoud El Sayyed / Vice Chairman has added that the company succeeded to secure its presence on the local and regional level through following its clear vision and implementing prudential strategy which aims to achieve the best results for the shareholders, he also added that Aamal previous achievements is the corner stone for future developments which we aim to achieve through out the multiple roles of the company’s activities.
