Gulf International Services Reports QR 439.2 Million Net Profit in 2010

Doha, February 27 (QNA) - Gulf International Services Company announced Sunday a net profit of QR 439.2 million in 2010 versus QR 579.5 million in 2009.
The company said in a statement that its audited financials for 2010 revealed EPS (earning per share) amounted to QR 3.25 in 2010 as compared to QR 4.29 the year before.
It added that its board of directors proposed to the General Assembly Annual Meeting, to ratify a distribution of a 13% cash dividend to its shareholders (QR.1.30 per share).
Gulf International Services QSC (GIS) is a Qatar-based public shareholding company, whose principal activity is to act as a holding Company through the acquisition, establishment, lease, ownership, management, sale and/or holding of shares, assets and interests in companies operating in various sectors. Qatar Petroleum holds 30% shares of GIS.
As of February 12, 2008, Gulf International Services assumed control of Gulf Helicopters Company QSC (100%), AL Koot Insurance and Reinsurance Company SAQ (100%), and Gulf Drilling International QSC (69.99%), previously held by Qatar Petroleum. Gulf Helicopters provides helicopter transportation services in Qatar, the Middle East and North Africa. AL Koot Insurance and Reinsurance Company SAQ offers a range of insurance and reinsurance services to Qatar Petroleum and its subsidiaries and affiliates. Gulf Drilling International provides drilling and drilling related services to Qatar Petroleum Group and its international joint-ventures. (QNA(