Aamal Net Profit for 2012 Up 17% to 624.5 Million

Doha, March 05 (QNA) - Aamal Company's (Qatar Exchange: Aamal) net profit for financial year ended December 31, 2012 is up by 17% to Qr 624.5 Million compared to QR 533.7 Million in 2011. The company's Earnings Per Share were up 21.1% to QR 1.09 compared to QR 0.902 in 2011. Its gross profit increased by 1.3% to QR 446.3m (2011:440.7m) and group revenue was up 19.6% to QR 2,283.9m (2011: QR 1,910.1m). The company directors have proposed the distribution of 55.5 Million bonus share representing 10.19% of its capital. This bonus share will further increase Aamal's capital by a nominal value of QAR 555m to QAR 6 Billion. Aamal Chairman Sheikh Faisal bin Qassim Al Thani said, "Aamal has again delivered another strong annual performance in 2012 as we maintained our strong growth record, increasing revenues by almost 20% and reported earnings per share by more than 21%. "Aamal expanded its industrial manufacturing businesses in 2012, growing divisional revenues by over 32% year-on-year in line with its established strategy to position itself to exploit the opportunities of Qatar's impending infrastructure investment programmes. As a result Aamal is now predominantly an industrial company, deriving almost two thirds of total revenues from the industrial manufacturing division." The company's Annual General Assembly meeting will be held April 24. (QNA)