Aamal Company Q.P.S.C. financial results for the nine months ended 30 September 2022

Aamal Company Q.P.S.C. financial results for the nine months ended 30 September 2022

Doha: – the Board of Directors of Aamal Company Q.P.S.C. (“Aamal”), one of the region’s leading diversified companies, today announces its financial results for the nine months ended 30 September 2022.

Financial Highlights

- Total revenue up 37.5% to QAR 1.5bn (9M 2021: QAR 1.1bn)

- Gross profit up 20.0% to QAR 358.7m (9M 2021: QAR 298.9m)

- Net profit attributable to Aamal equity shareholders up 23.6% to QAR 256.0m (9M 2021: QAR 207.2m)

- Reported earnings per share up by QAR 0.008 to QAR 0.041 (9M 2021: QAR 0.033)

- Net capital expenditure of QAR 34.8m (9M 2021 QAR 46.3m)

- Gearing remains low at 4.35%

SUMMARY AND OUTLOOK

H.E. Sheikh Faisal Bin Qassim Al Thani, Chairman of Aamal, commented:

“I am pleased to report that the growth momentum Aamal generated in the first half of the year has been maintained for the period to 30 September 2022, resulting in a very strong performance with revenue and attributable net profit up 37.5% and 23.6% respectively.

“All four of our business segments again made solid contributions, with Industrial Manufacturing, Managed Services and Property all delivering significant double-digit year-on-year increases in revenue and net profit. Within Industrial Manufacturing, Aamal Cables’ revenue increased by 133% and Senyar Holdings’ revenue rose by 16%, while