WOQOD, Al Khaliji, Gulf International Announce Q1 reports

Doha, April 21 (QNA) - Qatar Fuel Company (WOQOD) has announced a net profit for the first quarter 2015 (after excluding minority interest) of QR237 million, an increases by QR8 million or 3.5% as compared to QR 229 million for the same period of 2014. The announcement came during the company's board meeting under HE Sheikh Saoud Bin Abdulrahaman Bin Hassan Al-Thani, the Chairman of the Board of Directors. The meeting was held to discuss the financial results achieved during the period ended 31 March 2015. WOQODs Chief Executive Officer, Eng. Ibrahim Jaham Al- Kuwari stated that earning per share (EPS) amounted to QR 2.81 as compared to QR 2.71 for last year. While total assets reached QR 9.4 billion as it decreased by 10% from last years figures, while total shareholders equity recorded QR 6.1 billion at a 9.4% decrease compared to last year, he added. Eng. Ibrahim Al- Kuwari added that WOQOD is currently involved in the implementation of more than 44 projects, 19 of them are under construction, 19 projects are in the design and approval stages, while 6 projects are in the tendering stages. In addition, 24 new locations are currently under consideration. On other hand, Gulf International Services (GIS) announced its financial results for the period ended March 31, 2015 with revenue of QR 1.2 billion and net profit of QR 400 million. This equates to a year-on-year increase of QR 600 million, or 96.2%, versus reported revenue; while, on a like-for-like basis assuming proportionate consolidation, the growth versus the same period of 2014 was QR 300 million, or 37.8%, said GIS in a press release today. Versus the last quarter, the group revenue was marginally increased by QR 15.7 million or by 1.3% as the operations of Q1, 2015 remained almost identical to that of Q4, 2014. Al Khalij Commercial Bank (Al Khaliji) announced its financial results for the first quarter of 2015, reporting a Net Profit of QAR 144.4 million. This represents an increase of 32% over its financial results for the same period of last year. Al Khaliji France S.A.s net profit was QAR 21.1 million by end of March 2015, up 9% from the same period in 2014 and representing 15% of the groups net profit. Commenting on the financial performance, Fahad Al Khalifa, Al Khalijis Group Chief Executive Officer said: "I am pleased to report that al khaliji has delivered a strong set of 1st Quarter financial results. Each business unit, in Qatar and overseas, delivered year on year revenue growth. Net income grew by 32% due to increased volumes, wider margins and a firm control of costs. We continue to be recognized as industry leaders, and have received numerous awards this year, for product innovation, service excellence and investor relations transparency. We are well positioned to continue our good performance and to take advantage of the great opportunities in Qatar and the region." (QNA)