Qatar: Aamal revenue up 6.8% to $159.42mln in Q1
Doha, Qatar: The Board of Directors of Aamal Company, one of the region's leading diversified companies, yesterday announced its financial results for the first quarter ended March 31, 2025. The company reported total revenue of QR580.3m up by by 6.8% (Q1 2024: QR 543.3m).
The gross profit was down1.3% to QR128.7m (Q1 2024: QR130.4m) and the net profit attributable to Aamal equity holders up 8.3% to QR101.8m (Q1 2024: QR94.0m). Meanwhile the reported earnings per share increased 8.3% to QR0.016 (Q1 2024: QR0.015).
The net capital expenditure declined 35.7% to QR6.6m (Q1 2024: QR10.3m). The gearing decreased to 0.9% (Q1 2024: 1.2%).
Rashid bin Ali Al Mansoori, Chief Executive Officer of Aamal, commented: 'I am pleased to reporta strong start to 2025 for Aamal with the Company achieving solid year-on-year revenue growth of 6.8% and an 8.3% rise in net profit. These results underscore the Company's sustained strategic delivery as it continues to adapt to changing market conditions and pursues promising growth avenues across its diversified and well positioned portfolio.
'The Trading and Distribution segment successfully carried its positive performance into 2025, with this being driven largely by strong organic growth at Ebn Sina Medical following the business module change. Aamal Trading was also successful in growing its market share and revenues on the back of sell out promotions and price increases on renewed service contacts.
'The performance of the Industrial Manufacturing segment continued to be mixed, with low levels of new construction activity resulting in subdued demand for Aamal Readymix and Aamal Cement, where revenue and net profit remained relatively flat year on year.
Nevertheless, Senyaronce again benefited from the demand stemming from the Kaharama and North Field projects to further improve its healthy profitability while profitability at Aamal Maritime's was bolstered by improving shipping rates and stable occupancy.'
Sheikh Mohamed bin Faisal Al Thani, Vice Chairman and Managing Director of Aamal, added: 'Overall, these are a positive set of first quarter results for Aamal, placing the Company on a strong footing as it looks to replicate the strong performance and successful strategic progress delivered in 2024. Looking ahead to the rest of the year, I am confident in Aamal's continued ability leverage our resilient and diversified business model to capture the abundant growth opportunities in both Qatar and the wider region. I would like to thank all Aamal employees for their efforts and contribution and look forward to driving continued value for all the Company's stakeholders'.
© Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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