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
 Jan 25 2015 - Saudi- Kingdoms economy expected to expand 3.22 this yearArab News
(MENAFN - Arab News) DUBAI: Cheap oil will slow growth in most Gulf Arab economies this year but heavy spending by governments and healthy private sector activity will prevent any serious slump a ...

 Jan 25 2015 - UAE's inflation hits 6-year high in DecemberMENAFN
(MENAFN) According to the figures released by the United Arab Emirates National Bureau of Statistics, the increase by more than 5 percent in the housing and utility costs led the UAE's inflation rate ...

 Jan 25 2015 - Dubai's Drake & Scull unit wins USD49m contractMENAFN
(MENAFN) Dubai's Drake & Scull International (DSI) said that one of its subsidies won a USD49 million engineering contract in the emirate, Gulf Business reported.Under the signed contract, the ...

 Jan 25 2015 - Dubai's Deyaar net profit down 43 percent in Q4MENAFN
(MENNAFN) Dubai's Deyaar Development said that it has registered a decline by 43 percent in its net profit during the October-December period of 2014, Gulf Business reported.During the fourth quarter ...

 Jan 25 2015 - Renault's GCC sales up 44 percent in 2014MENAFN
(MENAFN) Renault announced that it has registered a 44 percent increase in its sales within the region during 2014, which led by Dubai resulted in the manufacturer selling 23.626 vehicles, Emirates ...

 Jan 25 2015 - Sharjah firm to build solar power plantMENAFN
(MENAFN) Bee'ah, a Sharjah-based waste management company, announced that it is planning to build a solar power plant in the emirate with a capacity to generate more than 20 megawatts, Emirates 24/7 ...

 Jan 25 2015 - Bahraini JBG invest USD2.44m on expansion in GCCMENAFN
(MENAFN) Bahrain-based Jawad Business Group (JBG) announced that it was planning to expand its business in the UAE and the GCC by opening 10 new stores this year, with an investment of over USD2.44 ...

 Jan 25 2015 - Dubai Arabtec wins USD152m contractsMENAFN
(MENAFN) Dubai's Arabtec Holding announced that it has won two contracts in Abu Dhabi, through its Target Engineering unit, with the contracts having a combined value of USD152.5 million, Emirates ...

 Jan 25 2015 - Qatari Barwa, Erga Qatar sign USD24.14m deal on projectMENAFN
(MENAFN) Qatari Barwa Real Estate Group said that it has signed an agreement with Erga Qatar Architectural and Engineering Consultants for the second phase of Dara project, which is currently being ...

 Jan 25 2015 - US, UK consortium wins contract for Expo 2020 projectMENAFN
(MENAFN) Dubai World Trade Centre said that it has awarded a consortium of US-based CH2M HILL and UK's Mace a contract regarding all the real estate and construction related project management for ...

more...


 






Google

Electronic & Mobile Payment

 
 

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