Woqod net profit rises by 61% to QR691m for first nine months – The Peninsula Qatar

Woqod net profit rises by 61% to QR691m for first nine months – The Peninsula Qatar

Doha: Qatar Fuel Company, (Woqod), which has an exclusive concession to distribute, sell, transport and market refined petroleum products and gas within the State of Qatar, has reported a consolidated net profit attributable to shareholders of QR691m for the period ended September 30, 2021, an increase of 61 percent or QR262m, compared to QR429m achieved during the same period in 2020. The Group’s earnings per share stood at QR0.69 per share compared to QR0.43 for the same period last year.

Woqod’s Board of Directors which was chaired by Ahmed Saif Al Sulaiti, has approved the financial results, key performance, and operational indicators of Woqod Group for the first nine months of the year. The Board also approved the Group Capital and Operational Budget for the year 2022.

Woqod’s increase in net profit and earnings per share was due to a noticeable improvement in the performance of most of the Group’s activities and revenues in conjunction with the economic recovery from the COVD-19 pandemic, coupled with the efforts exerted towards implementing the approved optimisation policy in the Group’s business.