Half year financial results

At a meeting on 28th July 2009, the Board of Directors of Aamal Company Q.S.C approved the Company’s financial results for the six months ended 30th June 2009.

The results demonstrate Aamal’s strong financial position and excellent year-on-year operating performance.

Reflecting the quality of Aamal’s portfolio of businesses, operating profit increased by 35% to QR 102 million (June 2008: QR 75 million) and revenues increased by 8% to QR 354 million. The Company has performed strongly in very difficult global economic conditions.

Aamal Company has successfully grown its presence at a local and regional level through building on the market-leading positions of its businesses and introducing new ventures that offer state-of-the-art technology. All of Aamal`s core businesses produced excellent first half performances.

Aamal’s Board of Directors stated that they will continue to identify opportunities to support the Company`s sustainable growth strategy to the benefit of shareholders. The Board also commented that these outstanding results are the outcome of the successful implementation of the Company’s focused strategy and the commitment and efforts of its employees. Aamal continues to consider new investment opportunities to expand its operations and activities both locally and internationally to the benefit of the local community and its other stakeholders.

Commenting, His Excellency Sheikh Faisal Bin Qassim Al-Thani, Chairman of Aamal Company, said:

“Despite the global economic turbulence experienced in the first half of the year, our diversification strategy is delivering excellent results. Our Real Estate assets continue to generate strong cash flow, whilst our Industrial and Trading operations are an increasingly important part of our business. The outlook for the second half remains promising as we continue to benefit from the strong growth of the Qatari economy”.