ID :
196882
Sun, 07/24/2011 - 22:44
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http://m.oananews.org//node/196882
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Two Shareholding Companies Report First Half 2011 Financial Results
Doha, July 24 (QNA) - Islamic Holding Group announced its semiannual annual financial results as on 30/06/2011 in which it revealed a 7.16 increase in net profits from QR 2,926 million as on 30/06/2010 to QR 3,136 million as on 30.06.2011.
Total assets also showed a significant increase of 991% from QR117 million to QR 1,281 million and earnings per share increased from 9,7 % to 10,45% on the paid up capital during the period of comparison.
IHG s Managing Director Abdul Basit AlSheibi said in a press release that the company was in the process of evaluating a few business opportunities to enhance its future expansion plans through positive interaction with all business sectors and to diversify its sources of income based on the unprecedented works the country is undergoing especially after Qatar succeeded in winning the rights to host the 2022 World Cup .
Meanwhile, Qatar Navigation today announced the financial results for the first half of 2011, and reported operating revenues of QR 1.1 billion versus same period in 2010 of QR 1 billion, and operating profit of QR 300 million versus same period in 2010 of QR 299 million. The company said it achieved a Net Profit of QR 418 million and QR 3.65 earnings per share, compared to same period in 2010 of QR 952 million and QR 8.32 per share. Year over year comparison of Net Profit is skewed due to one-time, non-cash accounting adjustments in 2010 related to the Qatar Shipping Company acquisition, it added.
Qatar Navigation s Chairman & Managing Director Sheikh Ali bin Jassim bin Mohammed Al-Thani announced that Qatar Navigation is preparing to expand its
presence in various sectors as part of the recently defined long term strategy. "We are in the process of building new capabilities within the organization in order to
achieve our ambitious growth goals. In line with this, we ve also made significant progress on the implementation of a new organization and governance structure for
the future."
Qatar Navigation s President and CEO Khalifa bin Ali Al-Hetmi stated that the implementation of several other internal initiatives is well underway, with the aim of
streamlining and optimizing existing operations. He added that "Qatar Navigation has redefined its brand to align with its vision and strategy and is making preparations to launch the new identity by the 4th quarter of 2011."
Total assets also showed a significant increase of 991% from QR117 million to QR 1,281 million and earnings per share increased from 9,7 % to 10,45% on the paid up capital during the period of comparison.
IHG s Managing Director Abdul Basit AlSheibi said in a press release that the company was in the process of evaluating a few business opportunities to enhance its future expansion plans through positive interaction with all business sectors and to diversify its sources of income based on the unprecedented works the country is undergoing especially after Qatar succeeded in winning the rights to host the 2022 World Cup .
Meanwhile, Qatar Navigation today announced the financial results for the first half of 2011, and reported operating revenues of QR 1.1 billion versus same period in 2010 of QR 1 billion, and operating profit of QR 300 million versus same period in 2010 of QR 299 million. The company said it achieved a Net Profit of QR 418 million and QR 3.65 earnings per share, compared to same period in 2010 of QR 952 million and QR 8.32 per share. Year over year comparison of Net Profit is skewed due to one-time, non-cash accounting adjustments in 2010 related to the Qatar Shipping Company acquisition, it added.
Qatar Navigation s Chairman & Managing Director Sheikh Ali bin Jassim bin Mohammed Al-Thani announced that Qatar Navigation is preparing to expand its
presence in various sectors as part of the recently defined long term strategy. "We are in the process of building new capabilities within the organization in order to
achieve our ambitious growth goals. In line with this, we ve also made significant progress on the implementation of a new organization and governance structure for
the future."
Qatar Navigation s President and CEO Khalifa bin Ali Al-Hetmi stated that the implementation of several other internal initiatives is well underway, with the aim of
streamlining and optimizing existing operations. He added that "Qatar Navigation has redefined its brand to align with its vision and strategy and is making preparations to launch the new identity by the 4th quarter of 2011."
