Aamal Announces Financial Results for 2016 H1

Doha, July 25 (QNA) - Aamal Company QSC Monday announced its financial results for the half year ended 30 June 2016. The Total net profit of the company was QAR 305.5 million, increase by 23.5% compared to the same period of last year, while the earnings per share recorded an increase of 17.1% to reach QAR 0.41 compared to QAR 0.35 in the first half of 2015, according to the company's statement issued today. Chairman of Aamal Company HE Sheikh Faisal Bin Qassim Al Thani said: "The first six months of this year have witnessed a tremendous performance with total net profits growing by over 23% compared to the corresponding period in 2015. The majority of this growth is derived from margin expansion within our Industrial Manufacturing division, which now makes up over 38% of total company profits. As one of the leading industrial companies in the State of Qatar, Aamal Company is well positioned to be a direct beneficiary of the countrys infrastructure-led development programs." Aamal Vice-Chairman HE Sheikh Mohammed bin Faisal Al-Thani commented: "Aamal Company has performed very creditably in the first half of this year, notching up an impressive rise in total profits of over 23%. This has been driven by margin expansion which is testimony to our relentless focus on profitable growth through careful allocation of capital and a strong emphasis on operating returns. By remaining at the vanguard of Qatars infrastructure-led development, it is my strong conviction that we are well positioned to take advantage of structural growth opportunities as they continue to evolve." For his part, the company's Managing Director Tarek Mahmoud El Sayed said: "Aamal Company has many unique qualities that helps us to stand out. These include our leading market positions across the entire Qatari economy, our proven track record in strategic asset allocation coupled with a clear focus on returns and value creation, and our balance sheet strength. We strive to be the best we can be and our latest set of results attests to this." (QNA)