(MENAFN- The Peninsula) Qatar Oman Investment Company reported net profit of QR9.85m for first quarter of 2011.
The Board of Directors met yesterday and discussed the result for the three months ending March 31, 2011 and approved it. Sheikh Abdulrahman bin Mohammed bin Jabor Al Thani, Chairman, also attended the meeting.
The increase of around 256 percent (QR6m ) from QR3.85m for same period in 2010, resulted in an increase in value of share from QR0.13 to QR0.31.
On the other hand, the capital increased from QR300m to QR315m. Also, retained earnings increased by 329 percent from QR4.3m to QR14.36m for the same period.
The company invested 15 percent of its capital in different project, and expect to gain income during 2011, which will contribute to overall profit.
The company is keeping 30 percent of its capital in cash and plans to invest in promising opportunities without risks.
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