Mawashi Reports QR33 Million Net Profit in 2010

Doha (QNA) - Qatar Company for Meat and Livestock Trading (Mawashi) has disclosed its financial statements for the year ended December 31, 2010, revealing a net profit of QR 33 million in 2010 versus QR 19 million in 2009. The company’s EPS amounted to QR 1.84 in 2010 compared to QR 1.05 in the previous year. The Board recommended distribution of Cash Dividends to the shareholders for the year 2010 of 15 % from the original share value, QR. 1.5 for each share. This recommendation will be referred to the General Assembly meeting. Mawashi announced last month that it has received a letter from the Hassad Food Co., a subsidiary of the Qatar Investment Authority, including guidelines on the government’s purchase of Mawashi and the relevant request to facilitate the mission of the consulting firm, so it can carry out the required studies and identify the fair price in anticipation of reaching an agreement to finalize the purchase deal. Qatar Company For Meat & Livestock Trading was established in 2004 to Trade in livestock, meat and animal feeds in addition to meat derivatives and animal Skin – Tannery and the management of the slaughtering houses in the state of Qatar.