Aamal registers 8.4% jump in net profit in Q1

Aamal registers 8.4% jump in net profit in Q1

Aamal Company, one of the Gulf region’s most diversified conglomerates, has reported an 8.4% jump year-on-year in net profit to QR73.6mn in the first quarter (Q1) of this year.

Total revenue shot up 45% to QR453.5mn due to the particularly strong performance of the industrial manufacturing segment.

“We look forward to the remainder of 2022 with confidence and remain committed to generating long-term shareholder value through the continued profitable operation and expansion of our diversified business platform and leveraging the opportunities provided by the 2030 National Vision," said HE Sheikh Faisal bin Qassim al-Thani, Aamal chairman.

Highlighting that the upcoming FIFA World Cup is slated to provide a further economic boost to Qatar this year, he said it is well positioned to grab the opportunities.

The reported earnings-per-share was up 8.4% year-on-year to QR0.012 at the end of March 31, 2022.

Net capital expenditure grew QR7.2mn to QR14.3mn, mainly due to investments in the property segment, it said, adding gearing decreased to 4.1% (Q1 2021: 4.7%).

Sheikh Mohamed bin Faisal al-Thani, chief executive officer and managing director of Aamal, said Aamal’s strong performance in Q1, 2022 is testament to the clear sector focus of its strategy, with a particular focus on industrial manufacturing, healthcare and