Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Gulf International Services Net Profit Up 46% in 2013  Join our daily free Newsletter

MENAFN - Qatar News Agency - 25/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Qatar News Agency) Gulf International Services Company (QE: GISS) has announced a net profit of QR 677 Million for the financial year-ended December 31, 2013, an increase by 45.81% compared to QR 464.3 Million in 2012.



This is the company's best financial results on recor



Its Earnings per Share (EPS) amounted to QR 4.55 in 2013 compared to QR 3.12 in 2012, according to Qatar Exchang



Its revenue is up 47.1% to QR 2.3 Billio



The board of directors has recommended the distribution of QR 2 per share as cash dividend, representing 20% of the nominal value of the shar



The board also recommends to the Ordinary AGM the distribution of 25% bonus share



"The strong performance is due to impressive growth in all segments," the GIS sai



In a statement to QE, HE the Minister of Energy and Industry and Chairman and Managing Director of GISS, D



Mohammed bin Saleh Al Sada, said, "The GIS group exceeded expectations in 2013 and closed the year with record results. "These are the highest year-end results since inception and a remarkable achievement in the group's short history. This positive growth reiterates our historical commitment to the goal of maximising shareholders' wealth. These strong results were aided by the ambitious growth plans in all segments, and the acquisition last year of Amwaj Catering Services Limited." GISS business interest are in insurance, re-insurance, fund management, onshore and offshore drilling, accommodation barge, helicopter transportation and catering services. The company's wing, Gulf Drilling International deployed two new high specification, premium offshore rigs. The first, Al-Jassra, joined the fleet in May 2013, and the second, Leshat, started operations in December 2013, a senior official said. GDI signed a five-year contract with a major oil company operating in Qatar for the utilisation of this rig. GDI's ninth offshore rig, Dukhan, is its third new, high specification, premium rig ordered in the last two years. It is expected to arrive in Qatar in the fourth quarter of 2014, the official added.

 


Qatar News Agency




  MENA News Headlines
 Mar 4 2015 - Egypt eyes foreign investmentsMENAFN
(MENAFN) Egypt's economic conference raised expectations about improving investments opportunities in the country as well as among foreign business communities, The National reported.However, the ...

 Mar 4 2015 - ME carriers register 11.4 percent passenger growth in JanuaryMENAFN
(MENAFN) An increasing number of passengers are continuing to choose Middle East carriers for international travel, according to January figures from International Air Transport Association (IATA), ...

 Mar 4 2015 - UAE's Sanad portfolio value to reach USD1.5b by 2020MENAFN
(MENAFN) Sanad Aero Aolutions (Sanad), Mubadala's spare engine and component leasing and financing company, plans to increase its portfolio value to more than USD1.5 billion by 2020, up from over ...

 Mar 4 2015 - EU shares near 7-year highs as German retail sales jumpKhaleej Times
(MENAFN - Khaleej Times) The gains follow a rise in Asia and another record day on the Wall Street . US stocks futures pointed to a flat start.Eurozone government bond yields were slightly higher but ...

 Mar 4 2015 - UAE-based enterprises key target for seven global trade shows in Hong KongKhaleej Times
(MENAFN - Khaleej Times) The Hong Kong Trade Development Council, or HKTDC, the international representative organisation for Hong Kong-based manufacturers, traders and service providers, announced ...

 Mar 4 2015 - Moody's Investor Service upgrades Emaar's outlookKhaleej Times
(MENAFN - Khaleej Times) Emaar's strong cash flow generation, solid liquidity and growing business diversification will enable it to weather the more uncertain investment climate, Moody's Investor ...

 Mar 4 2015 - Israeli Navy Shoots Palestinian Fishing BoatsQatar News Agency
(MENAFN - QNA) Israeli navy opened fire at Palestinian fishing boats sailing off al-Sudaniya shore, in the northern Gaza Strip. Palestinian security sources said that the Israeli navy roaming the ...

 Mar 4 2015 - Dubai Int'l Boat Show sees more than 26,000 visitorsKhaleej Times
(MENAFN - Khaleej Times) The 23rd edition of the Dubai International Boat Show opened on Tuesday and is expected to draw more than 26,000 visitors from over 120 countries including High Net Worth ...

 Mar 4 2015 - Middle East and Africa private wealth set to hit $7.2t by 2018Khaleej Times
(MENAFN - Khaleej Times) With private wealth in the Middle East and Africa projected to reach $7.2 trillion by 2018, Dubai International Financial Centre is well positioned with its laws and ...

 Mar 4 2015 - Luxembourg seeks to bolster ties with UAEKhaleej Times
(MENAFN - Khaleej Times) Luxembourg, which is home to assets under management to the tune of more than ‚¬3000 billion, seeks to boost collaboration with the UAE in financial services, in particular ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help