Qatar's Aamal soars, reports higher net profit
- Qatar: Tuesday, March 05 - 2013 at 14:37
The QE 20 Index declined 0.40%, closing at 8,480.35 points Tuesday. Shares of Aamal Company, a diversified industrial firm, jumped 2.60% to reach QR15.38. Earlier in the day, Aamal said the financials for 2012 revealed a net profit of QR594.8m, up from QR492.1m in 2011. "Aamal continued to expand 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," said H.E. Sheikh Faisal Bin Qassim Al Thani, chairman of Aamal Company in an e-mailed statement. The state of Qatar is investing $120bn until 2015 in order to upgrade the Gulf state's infrastructure for reasons of diversification and to prepare for the FIFA World Cup in 2022.
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