(MENAFN- Qatar News Agency) Qatar Fuel (WOQOD) has reported a net profit of QR1,150 million for the year 2012.
A statement released by WOQOD said its Board of Directors held a meeting chaired by HE Abdullah Bin Hamad Al-Attiyah, Chairman of the Administrative Control and Transparency Authority and the Chairman of the Board of Directors, to discuss the financial results achieved during the period ended the 31th of December 2012.
Announcing WOQOD's financial results, Vice-Chairman and Managing Director, Mohamed Turki Al-Sobai said that the Board of Directors reviewed and approved the audited financial results achieved during this period.
The Board also examined current and future projects and gave his directives. Net profit (after excluding minority interest) exceeded QR1,150 million for the year 2012 , slightly declined by 0,028 % as compared to QR 1,184 million for the same period of last year (after the new adjustment in calculating the Company's contribution to the Activities' Fund). Despite the increase in capital base through issuing 25% bonus shares in 2011, earning per share (EPS) amounted to QR 22, 13per share as compared to QR 22, 78 for the same period of 2011.
While total assets reached QR 8billion, up by 15,7 % from last year figures, total equity recorded a growth rate of 14,3% to reach QR 5,5billion for the same period. Based on the achieved results for this period, and taking into considerations the current liquidity position and funds requirement for future capital expenditures, the Board of Directors is pleased to include within the agenda of your esteemed assembly which will be held on the 13th of March 2013, a recommendation to distribute cash dividends of QR. 519,750,000 according to a rate 100 % of the value of the paid-up nominal capital, i.e QR10 per share, in addition to 25% bonus shares i.e. 4 shares per 10 outstanding shares.
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