Qatar: Aamal attributable 2022 net profit rises 14% to $95.5mln

Qatar: Aamal attributable 2022 net profit rises 14% to $95.5mln

Aamal Company (Aamal), one of the Gulf region’s leading diversified companies, has seen its 2022 full-year net profit attributable to equity holders rise 14.1% to QR347.8 million ($95.5 million).

The company’s total revenue was up 29.2% to QR2,058.9 million (2021: QR1,594.1 million)

Gross profit rose 13.9% to QR484.7 million (2021: QR425.5 million) and the firm’s reported earnings per share increased 14.1% to QR0.06 (2021: QR0.05)

Net capital expenditure was down 27.5% to QR48.3 million (2021: QR66.6 million).

Year of growth

Sheikh Faisal Bin Qassim Al Thani, Chairman of Aamal, commented: “2022 was a year of growth and recovery for Aamal. Year after year, Aamal’s diversified strategy and solid financial position allows it to take advantage of opportunities as they arise across different economic sectors and provides its balance sheet with impressive financial resilience. I am especially proud of our business units’ ability to be nimble and innovative in an ever-changing market environment and to contribute to the Company’s impressive levels of organic growth, all under the stewardship of our talented leadership team.

“Aamal’s Board of Directors is recommending a 2022 cash dividend of 5% (QR0.05 a share) for approval at Aamal’s Annual General Assembly Meeting which will take place on March 7, 2023.

“I am proud of