Woqod net profit rises by 38% to QR974m in 2021 – The Peninsula

Woqod net profit rises by 38% to QR974m in 2021 – The Peninsula

Doha: Qatar Fuel Company, (Woqod), which has an exclusive concession to distribute, sell, transport and market refined petroleum products in the country, has reported a consolidated net profit of QR974m for the financial period ended December 31, 2021, an increase of 38 percent compared to QR707m recorded in 2020. The Group’s earnings per share stood at QR0.98 compared to QR0.71 for the same period in the previous year. Shareholders equity also increased by 7 percent to QR9.0bn from QR8.4bn in 2020.

Based on the company’s profits in 2021 and taking into account the requirements of current and future projects, the Board has recommended to the Company’s Annual Shareholders General Assembly scheduled for 27 February2022 to approve a Dividend distribution to shareholders of 0.76 QR per share.