OREANDA-NEWS.  The Board of Directors of Aamal Company QSC (“Aamal”), one of the GCC’s fastest growing diversified companies, today announces its financial results for the half year ended 30 June 2016. 

Financial Highlights
 Group revenue up 3.0% to QAR 1.39bn (H1 2015: QAR 1.35bn)
 Gross profit up 14.5% to QAR 355.3m (H1 2015: QAR 310.4m)
 Total net profit1 up 23.5% to QAR 305.5m (H1 2015: QAR 247.4m)
 Reported earnings per share up 17.1% at QAR 0.41 (H1 2015: QAR 0.35)
 Net investment in capital expenditure rose by QAR 14.1m to QAR 60.1m (H1 2015: QAR 46.0m), reflecting fleet expansion at the Aamal Maritime Transportation Services subsidiary, and the ongoing Phase 2 redevelopment works at the City Center Doha shopping mall
 Financial gearing2 remains low at 3.9% (31 December 2015: 3.6%)

H.E. Sheikh Faisal Bin Qassim Al Thani, Chairman of Aamal Company QSC, commented: “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 country’s infrastructure-led development programs. “Although our industrial focus has clearly been the Company’s primary growth engine, the strong contributions made by our other three divisions should not be overlooked. All these businesses occupy leading market positions across the entire Qatari economy. As with our industrial manufacturing activities, we will continue to invest to sustain our momentum, either through strengthening our existing operations or pursuing new opportunities after careful consideration. Our low level of financial gearing, allied to strong free cash flow generation, clearly puts us in a very advantageous position.”

About Aamal Company QSC

Aamal Company is one of the GCC’s fastest growing diversified conglomerates, with a market capitalisation at 24 July 2016 of QAR 8.4 bn (US$ 2.3 bn), delivering a compound annual growth rate in net profit before fair value gains on investment properties in excess of 20% from 2006-2015 and generating revenues of QAR 2.9 bn (US$ 791.4 m) in 2015. Aamal is one of the largest diversified companies quoted on the Qatar Stock Exchange (“QSE”), having been listed since December 2007, and is a constituent member of the QE Index which is a measure of the 20 largest and most liquid stocks listed on the exchange. Focused on sustained, profitable growth and strongly diversified for balanced exposure across Qatar’s rapidly growing economy, Aamal’s operations comprise 25 business units with market leading positions in the key industrial, retail, property, managed services and medical equipment and pharmaceutical sectors.