Q3 Results of Aamal Company Q.S.C : Actual Results Exceeded the Budget
The Board of Directors of Aamal Company Q.S.C met on 18th October 2009 to approve the Company’s financial results for the third quarter ended 30th September 2009.
The results demonstrate Aamal’s leading financial position and year-on-year operating performance. Reflecting the quality of Aamal’s portfolio of businesses, operating profit has increased by 35% to QR 144 million (Sep 2008: QR 106 million) and revenues increased by 6% to QR 518 million (Sep 2008: QR 486 million). The Company has performed positively during relatively difficult global economic conditions.
Aamal Company continues to secure its presence at the local and regional level through building and maintaining a leading position in all of its business activities, as manifested by the positive cash flows in the Real Estate, Manufacturing, Trading and Services sectors.
During the meeting, the Chairman of Aamal Company, His Excellency Sheikh Faisal Bin Qassim Al-Thani exclaimed that these results are the reflection of a clear and focused strategy the company has been following over the years. Aamal focuses on introducing new business ventures, especially in the industrial sector, to support the economy and strengthen the company`s leading position.
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 its shareholders. Aamal is committed to developing its current activities and further expand its operations.
His Excellency Sheikh Faisal Bin Qassim Al-Thani also added that, with the positive figures that Aamal has been able to achieve during the period, the Company is confident of having similar growth during the last quarter of 2009 as well. He also added that, with some of its recently established projects expected to commence operation before year end and with the results exceeding budgeted figures during the last three quarters, the prospects are very bright for the Company in future.
