Aamal Announces Financial Results for First Quarter of 2017

Aamal Company announced that its net profit for the first quarter of 2017 reached QR 114.5 million compared to QR 129.2 million for the same period last year. Earnings per share is QR 0.18 compared to QR 0.21 in 2016.
HE Chairman of Aamal Sheikh Faisal bin Qassim Al-Thani said, "The first quarter of 2017 has seen our revenues grow very strongly, by more than 22%; this has been driven by a combination of both organic and acquisition means. Offsetting this revenue growth has been a contraction in our margins, particularly within the industrial manufacturing division." "Looking ahead to the rest of 2017, we remain very upbeat, confident that the company is uniquely positioned to capture and build on the opportunities that continue to present themselves. Visibility is high and Aamal occupies a number of market leading positions across the economic spectrum.
 Furthermore, this year will see the benefits of the phase 2 development works at City Center Doha starting to come through with the handover of the first new retail outlets, with the majority following in 2018." Aamal's operations comprise 24 active business units with market leading positions in the key industrial, retail, property, managed services and medical equipment and pharmaceutical sectors. It has been listed on the Qatar Stock Exchange (QSE) since December 2007 and is a constituent member of the QE Index, which is a measure of the 20 largest and most liquid stocks listed on the Qatar market.

Source: QNA