Aamal, Qatar Oman Investment Announce Financial Statements for H1 2017

Doha, July 30 (QNA) - Aamal Company disclosed its reviewed financial statement for the period ended on June 30, 2017. The statement shows that the net profit is QR 240.4 million compared to net profit amounting to QAR 255.6 million for the same period of the previous year. Earnings per Share (EPS) amounted to QR 0.38 for the period ended June 30, 2017 compared to an EPS of QAR 0.41 for the same period of the previous year. HE Chairman of Aamal Company, Sheikh Faisal bin Qassim Al Thani said, "The first six months of 2017 saw a fall in revenue and profits compared to the first half of the previous year. This was the result of a variety of factors including ongoing redevelopment work at City Centre Doha and several one-off contracts being awarded in 2016, as well as loss of control of two subsidiaries in our Industrial Manufacturing division which have affected the presentation of our financials and comparison with the first six months of 2016." He added, "Aamal Company continues to enjoy a healthy financial position, our businesses remain at the forefront of their respective sectors in Qatar and we are well-placed to absorb the short-term impact of these factors. We are currently re-evaluating our supply chain processes and examining several new business opportunities, particularly in our Industrial Manufacturing division, initiatives which we are confident will help contribute to Aamal's future growth." HE Vice-Chairman and Managing Director of Aamal Sheikh Mohamed Bin Faisal Al Thani said, "Aamal Company remains well-placed to take advantage of growth opportunities as they arise. We continue to hold market-leading positions across our diverse range of businesses and our business model and financial position, including our healthy cash flow generation, remain strong." Qatar Oman Investment Co. disclosed its reviewed financial statements for the period ended on June 30, 2017 . The statements show that the net profit is QR 10,551,129 compared to net profit amounting to QR 12,877,512 for the same period of the previous year. Earnings per Share (ESP) amounted to QR 0.335 for the period ended on June 30, 2017 compared to ESP amounted to QR 0.409 for the same period of the previous year, according to Qatar Stock Exchange website. (QNA)