Gulf International Reports QR 282.9 Million in Net Profit

Doha, February 19 (QNA) - Gulf International Services Company has disclosed the audited financial statements for the year ended December 31, 2011. The audited financials revealed a net profit of QR 282.9 million in 2011 versus QR 439 million in 2010. The company s EPS amounted to QR 2.09 in 2011 compared to QR 3.25 in 2010, it said in a statement published on the (Qatar Exchange) website. The Board of Directors decided to recommend to the AGM the payment of a cash dividend to shareholders for the financial year (2011) by (13 %) of its paid up capital equivalent to QR. 1.3 per each share and 10% bonus shares. Gulf International Services Q.S.C. (GIS) was incorporated as a Qatari shareholding company on 12 February 2008, by Qatar Petroleum (QP). GIS has significant investments in national and international oil and gas industry, including well support services, offshore and onshore drilling services, helicopter maintenance and transportation services, insurance and reinsurance services. (QNA)