Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar- Aamal looks for new opportunities  Join our daily free Newsletter

MENAFN - The Peninsula - 08/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) Aamal Company, a diversified group having interest in industrial manufacturing, trading and distribution, real estate and services, will look for new opportunities for expansion.

"We will continue to look for and appraise new opportunities for further expansion as the development of Qatar's infrastructure continues apace as we are witnessing an unprecedented demand for many industrial products, of which a large proportion is currently being imported from abroad," said Tarek M El Sayed, Managing Director of Aamal addressing company's Annual Ordinary General Assembly. "I would like to emphasise that we will also continue to look for new value creating opportunities in the other sectors which we are involved in to improve and increase the efficiency as it will help to strengthen our already market leading positions. Also, we will allocate the profits generated during the past year to capture opportunities in the local and regional market," he said.

"Aamal achieved strong results for 2013. We have managed to grow both revenues and expand net underlying profit margins, thereby impoving the overall quality of earnings," said Faisal Bin Qassim Bin Faisal Al Thani, Chairman in a statement. "Underlying net profit, excluding the uplift from the fair value gains on investment properties, grew by over 13 percent to QR267.2m and earnings per share on this basis increased by 27 percent. This is a very impressive performance and testimony to the solid foundations we have put in place to share in, and contribute to, the rapid growth that Qatar is experiencing as it transforms itself into a modern, diversified and industrial economy," he said.


The revenue grew by 2.6 percent to QR 2.1bn in 2013 while net underlying profit (before fair value gains on investment properties) increased 13.4 percent to QR267.2m.

"We are very excited about the prospect of beginning the commercial production of the Advanced Pipes and Casts Company in 2014. This will allow us to increase our product range and scope to supply a number of new industrial projects," said Tarek M El Sayed.

He said that work has now begun to obtain the necessary permissions for Phase 2 of the redevelopment of City Center Doha.

 


The Peninsula




  MENA News Headlines
 Jun 24 2016 - Chinese tornado death toll hits 98Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) TOKYO, June 24 (KUNA) -- Death toll of the tornado and hailstorms in east China''s Jiangsu Province has climbed to 98, state-run Xinhua News Agency reported ...

 Jun 24 2016 - UK has voted by 52% to 48% to leave European Union -- BBCKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) LONDON, June 24 (KUNA) -- The UK has voted by 52% to 48% to leave the European Union after 43 years in an historic referendum, acording to the BBC. London and ...

 Jun 24 2016 - Spain heads to fresh parliamentary polls amid political uncertaintyKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) By Hanadi Watfa MADRID, June 24 (KUNA) -- The Spaniards are to go to the polls on June 26 for the second time in less than one year though the political scene ...

 Jun 24 2016 - Kuwait fire fighters work throughout the year including RamadanKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) By Hammad Al-Mutairi KUWAIT, June 24 (KUNA) -- Personnel of the Kuwait Fire Service Directorate (KFSD) work hard throughout the year including the fasting ...

 Jun 24 2016 - Washington hotel lays historic claim to longtime political practice of lobbyingKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Photo feature by Ronald Baygents WASHINGTON, June 24 (KUNA) -- Tourists and Washington residents who visit the lobby of the downtown Willard Hotel can find a ...

 Jun 24 2016 - Kuwait- Amiri Diwan Affairs Minister receives former Azhar Uni. headKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT, June 24 (KUNA) -- Minister of the Amiri Diwan Affairs Sheikh Nasser Sabah Al-Ahmad Al-Jaber Al-Sabah received Friday member of Al-Azhar''s supreme ...

 Jun 24 2016 - Tusk: Not a moment for hysterical reactionsKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) BRUSSELS, June 24 (KUNA) -- President of the European Council Donald Tusk, in a first reaction to the Brexit, said on Friday the 27 EU leaders are determined to ...

 Jun 24 2016 - Madrid bourse posts record losses due to BrexitKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) MADRID, June 24 (KUNA) -- Benchmark of Madrid Bourse, Ibex 25, tumbled by 11.99 percent at start of Friday''s session settling at 7,819, amid a prevalent jittery ...

 Jun 24 2016 - Cameron declares he is stepping down from officeKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) LONDON, June 24 (KUNA) -- British Prime Minister David Cameron is to step down by October after the UK voted to leave the European Union. Cameron made the ...

 Jun 24 2016 - Egypt receive millions in new investments from ChinaMENAFN
(MENAFN) China Petroleum and Technology Development Corporation (CPTDC) plans to invest nearly USD10 million in Egypt, based on recent reports.Accordingly, the firm has been trying to find a local ...

more...


 





Google

 
 

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