Ordinary & extraordinary annual general assembly meeting
Aamal Company Q.S.C held ordinary & extraordinary Annual General Assembly Meeting of its shareholders yesterday. The AGM aside from approving the robust financials of the company for the year 2007 and the articles mentioned in the agenda also approved distributing cash dividends of 10% (QR 1 for each share) in addition to bonus shares of 10% of the company’s capital (one share for each 10 shares) benefiting the shareholders and showing the company’s capabilities considering that it was only listed in Doha Securities Market end of 2007.
Sheikh Faisal Bin Qassim Al Thani has expressed his satisfaction of the company remarkable performance during 2007 saying that 2007 was another year of substantial progress & ambitious accomplishments rewarded with the listing of Aamal Company Q.S.C at Doha Securities Market. Through eminent revenue growth, Aamal Company Q.S.C have been able to generate strong profit & revenue through taking the right decisions and follow a clear strategy that was set several years ago.
Sheikh Faisal also added “the financial performance in 2007 was a solid proof of our success & a natural reflection of the strong economy of the country. Net profit & earning per share has increased by 93% to accomplish QR 825 billion in net profit, and EPS to reach QR2, 39.
We have started our prosperous journey 40 years ago with only one company, now; with God blessings, we have more than 14 branch & subsidiary working in different sectors from real estate to trading & industry, due to our belief that diversity is a key to success as solidarity is to strength. Aamal solid base and the diversity in its activities offer assurance to shareholders and minimize the calculated risk, it is also important to highlight that all of Aamal branches & subsidiaries enjoy a leading position in the sector which they operate.
Aamal Company future plans is to reinforce our expansion goals in all the company’s business activities with special focus on the industrial sector as the company is currently in discussions with different specialized parties to initiate new industrial projects. The company aims to increase its shareholders base through employing the growing opportunities in the fast developing Qatari Market. Aamal Company Q.S.C is considered one of the largest companies in Qatar offering stability & assurance to its shareholders through its diversified and well studied investments.”
On the other hand, Mr. Tarek El Sayyed Deputy Chairman has emphasized that the company enjoy a strong financial position shown in the financial results for 2007 and the listing of Aamal Company Q.S.C at Doha Securities Market was a strategic turning point strengthening the company’s ability to compete in advanced international markets and benefiting from better investment opportunities to achieve its goal of building a solid industrial base and be among the first companies in the private sector to invest in the industrial sector.
He also added that the impressive financial results for 2007 are true reflection of Aamal strong financial position and an indication of its ability to manage investments effectively. The increase in total assets by 29% and the increase in total equity by 25% is a solid proof that we are following the right path.
