Latest news with #QR2.1bn
Zawya
10-04-2025
- Business
- Zawya
Qatar: Aamal Company approves 6% dividend distribution
Doha: Aamal Company Q.P.S.C. (Aamal), one of the region's leading diversified firms, successfully held its Annual Ordinary and Extraordinary General Assembly Meeting yesterday, at the JW Marriott Marquis City Center Doha Hotel. The meeting approved to distribute 6 percent dividend to shareholders and was attended by company officials, and invited guests after the quorum was met. The session began with remarks from Deputy CEO of Aamal Company, Sheikh Tamim bin Faisal Qassim Al Thani who welcomed attendees on behalf of the Chairman, H E Sheikh Faisal bin Qassim Al Thani. He expressed his gratitude for the company's positive results in 2024 and highlighted Aamal's diversified strategy as a key driver of its success. 'We are proud of our performance over the past year, which was made possible by Aamal's diversification strategy, the strong leadership of the Qatari government, and our ability to seize emerging opportunities,' he said. Following the Chairman's remarks, the CEO of Aamal Company, Rashid bin Ali Al Mansoori, presented the company's annual report. The CEO emphasised that the company had achieved impressive financial growth, reporting an 18 percent increase in net profit year-on-year, alongside a 1.1 percent rise in total revenue for the year 2024. Following the conclusion of the Extraordinary General Assembly, the meeting moved on to discuss the ordinary matters of the company. Among the key resolutions passed, the General Assembly approved the Chairman's report on Aamal's activities and financial performance for the fiscal year ending 31 December 2024. The report highlighted the company's strong financial results and its alignment with Qatar's National Vision 2030, which focuses on economic diversification and growth. Aamal reported total revenue of QR2.1bn for 2024, a 1.1 percent increase from the previous year. Gross profit also rose by 3.2 percent, reaching QR515.4m. Net profit attributable to Aamal's equity holders increased by 17.7 percent, totaling QR432.5m. The company's earnings per share also grew by 17.7 percent, amounting to QR0.069. The General Assembly approved a dividend distribution of 6 percent of the nominal value of each share, amounting to QR0.06 per share. The shareholders approved the External Auditor's report for Aamal's Consolidated Financial Statements for 2024, confirming the company's robust financial health. The General Assembly also approved the company's Corporate Governance Report and the Internal Control over Financial Reporting (ICOFR) report for the year ending 31 December 2024, highlighting Aamal's commitment to maintaining strong corporate governance standards. Additionally, KPMG was reappointed as the external auditor for Aamal for the 2025 financial year, with the fees set for their services. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. ( The Peninsula Newspaper
Zawya
13-02-2025
- Business
- Zawya
Qatar: External uncertainties drag QSE down; M-cap melts $576mln
Qatar - The Gulf institutions were increasingly net profit takers as the 20-stock Qatar Index shed 0.32% to 10,595.24 points, although it touched an intraday high of 10,618 points. Reflecting the uncertainty over the US tariffs and the Federal Reserve's cautious path for rate cuts, the Qatar Stock Exchange on Wednesday lost 34 points to settle below 10,600 levels. The Gulf institutions were increasingly net profit takers as the 20-stock Qatar Index shed 0.32% to 10,595.24 points, although it touched an intraday high of 10,618 points. As much as 62% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR2.1bn or 0.34% to QR619.3bn on the back of small and microcap segments. The Gulf retail investors were seen increasingly bearish in the main market, which saw as many as 1,810 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.02mn changed hands across four deals. The transport, consumer goods and industrials counters witnessed higher than average selling pressure in the main bourse, whose trade turnover and volumes were on the increase. The Islamic index was seen declining slower than the other indices of the main market, which saw no trading of treasury bills. The local retail investors continued to be net sellers but with lesser intensity in the main bourse, which saw no trading of sovereign bonds. The Total Return Index shed 0.32%, the All Share Index by 0.28% and the All Islamic Index by 0.22% in the main market. The transport sector index shrank 0.9%, consumer goods and services (0.67%), industrials (0.63%) and banks and financial services (0.1%); while telecom gained 0.34%, insurance (0.07%) and real estate (0.06%). Major shakers in the main bourse included Ezdan, Dlala, Zad Holding, QLM, Milaha, Mannai Corporation, Baladna, Qatar Electricity and Water and Nakilat. In the venture market, Al Mahhar Holding saw its shares depreciate in value. Nevertheless, Vodafone Qatar, Barwa, Qatar National Cement, Doha Insurance, Dukhan Bank, Aamal Company and Estithmar Holding were among the gainers in the main market. In the juniour bourse, Techno Q saw its shares appreciate in value. The Gulf institutions' net profit booking increased substantially to QR68.16mn compared to QR17.56mn on February 10. The Gulf individual investors' net selling expanded markedly to QR7.94mn against QR0.06mn the previous trading day. The foreign retail investors' net buying weakened perceptibly to QR0.33mn compared to QR2.4mn on Monday. However, the domestic institutions' net buying increased noticeably to QR50.58mn against QR47.66mn on February 10. The foreign funds were net buyers to the extent of QR32.6mn compared with net sellers of QR11.89mnthe previous trading day. The Qatari individual investors' net profit booking shrank notably to QR6.45mn against QR14.29mn on Monday. The Arab retail investors' net selling decreased markedly to QR1.45mn compared to QR6.26mn on February 10. The Arab institutions had no major net exposure for the third straight session. Trade volumes in the main market rose 7% to 125.43mn shares, value by 42% to QR503.94mn and deals by 26% to 16,038. The venture market saw a 97% plunge in trade volumes to 0.14mn equities and 97% in value to QR0.41mn but on 26% surge in transactions to 39. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (
