Qatar- Aamal H1 net profits up 6.9 percent 

(MENAFN - The Peninsula) Aamal Company QSC has reported its net profits of QR117.2m in the first half (H1) of this year, up 6.9 percent against the QR109.6m for the corresponding period last year. The group revenues grew by 37.8 percent to QR781.2m as against QR566.9m in H1 of 2010.

The company announced that its net margins (before share of profits of associates) decreased to 15 percent from 19.3 percent for the corresponding period last year, due to a change in business mix with a greater focus on industrial manufacturing

Sheikh Faisal bin Qassim Al Thani, Chairman of Aamal said, "It gives me great pleasure to report that the strong growth momentum of Aamal Company has been maintained with revenues increasing by nearly 38 percent and net profit by 6.9 percent. This encouraging performance reflects the strong foundations laid to position the company for robust and sustainable growth as we seek to capitalise on the opportunities that are being created by the wider industrialisation of Qatar's economy".

"Aamal's strategy is to create long-term shareholder value through the continued profitable operation and expansion of its diversified business platform, with an increasing focus on industrial manufacturing and related high growth sectors," he added.