QEWC Profit 10 Percent UP in 2012

Doha, February 06 (QNA) - The Qatar Electricity and Water Company (QEWC) on Wednesday announced that it has achieved profit of around QR 1.43 billion in 2012, an increase of 10 percent from the previous year. A press statement issued by QEWC today said that the company's Board of Directors held this evening its meeting chaired by HE the Chairman of Administrative Control and Transparency Authority Abdullah bin Hamad Al Attiyah, who is also the company's board chairman. The meeting discussed the Company's performance and positive financial results for the fiscal year 2012 and approved the general budget that showed total revenue of QR 4.75 billion for the year 2012, an increase of 4 percent from 2011, and expenditures of QAR 3.29 billion, an increase of 2 percent from 2011, the statement said. QEWC's Board of Directors also approved the company's profit after deducting non-controlling minority interest amounting to QAR 25 million, the company's activity report, the results of operations for the year 2012 and the future plans. (QNA)