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 improving 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
 Dec 19 2014 - Iraq to defer war reparations to Kuwait for a year, says UNThe Peninsula
(MENAFN - The Peninsula)  Iraq can delay payment of a final $4.6bn in war reparations for its 1990 invasion of Kuwait because of the difficulties it faces in battling the Islamic State insurgency, ...

 Dec 19 2014 - Qatar- Leaders attend National Day paradeThe Peninsula
(MENAFN - The Peninsula)  Patriotic fervour was at its zenith as the Emir H H Sheikh Tamim bin Hamad Al Thani and the Father Emir H H Sheikh Hamad bin Khalifa Al Thani walked into the crowds and ...

 Dec 19 2014 - First Qatari reaches South Pole, hoists flag to mark National DayThe Peninsula
(MENAFN - The Peninsula)  Reach Out To Asia (ROTA) Ambassador Sheikh Mohammed bin Abdullah Al Thani became the first Qatari to reach the South Pole, where he hoisted a flag to commemorate National ...

 Dec 19 2014 - Kellogg outbids Abraaj for third time in race for Egypt's BiscoThe Peninsula
(MENAFN - The Peninsula)   Breakfast cereal maker Kellogg Co has again raised its bid for Egyptian snack maker Bisco Misr, outbidding private equity group Abraaj for the third time and snatching the ...

 Dec 19 2014 - Impossible for Saudi to reduce oil output: MinisterThe Peninsula
(MENAFN - The Peninsula)  Leading Opec producer Saudi Arabia said yesterday that competitive pressures prevent it from reducing output, and the kingdom can weather plunging oil prices.Oil Minister ...

 Dec 19 2014 - Qatar- Tower rents to face pressure on new supplyThe Peninsula
(MENAFN - The Peninsula)  Qatar's office and residential rental markets remained strong during the third quarter of 2014 (Q3, 14). Offices recorded high rates across locations, with robust demand at ...

 Dec 19 2014 - Oil resumes slide after brief rebound on short-coveringThe Peninsula
(MENAFN - The Peninsula)  Global crude prices fell again yesterday, a day after a short-covering rally, as traders placed new bets that the market would resume a six-month rout on worries about a ...

 Dec 19 2014 - Algeria, France to enhance security cooperationKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA))  Algerian Minister of Interior and Local Governments Tayeb Belaiz met his French counterpart Bernard Cazeneuve here on Thursday to discuss security ...

 Dec 19 2014 - Arab telecom. ministers wrap up 18th session in CairoKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA))  Arab Telecommunications and Information Council of Ministers on Thursday welcomed a request that the Algerian city of Constantine, 2015 Capital of Arab Culture, ...

 Dec 19 2014 - ISIL senior leadership killed in airstrikes - PentagonKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA))  The Pentagon revealed Thursday that "multiple senior and mid-level leaders" in ISIL have been killed by the US-led coalition's airstrikes since mid-November."We ...

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