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FINANCIAL NEWS
Aamal gross profit up 22.4% in Q1
25 Apr 2011
(MENAFN) Aamal Company QSC’s chairman, HE Sheikh Faisal Bin Qassim Al Thani, unveiled financial results for the company for the first quarter of 2011, showing that Aamal’s gross profit hiked by 22.4 percent, hitting USD28.4 million, reported QNA.
Sheikh Faisal also said that the increase in sales was a result of the 36.4 percent increase in revenue, which amounted to USD98 million.
Net profit on the other hand went down by 1.8 percent, but stayed at a good level as it amounted to USD16 million. Sheikh Faisal said that net profit margins dropped by 16.5%.
The company cited the drop in net profits and margins to the temporary weakness in the pricing environment for Qatari ready mix concrete in the first quarter.
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