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FINANCIAL NEWS
Qatar’s QEWC registers USD202.24m profit in H1
16 Jul 2015
(MENAFN) Qatar Electricity and Water Company (QEWC) recorded a net profit of around USD202.24 million for the first half of the year, marking an increase by 3 percent year-on-year, Gulf Times reported.
QEWC attributed its success to higher operating income and share of profits from joint ventures as well as better cost management, which immensely helped in surpassing last year’s results
Revenue increased more than 1 percent, hitting USD389.59 million; whereas cost of sales decreased by 3 percent to USD214.7 million, leading to more than 7 percent increase in gross profit to USD174.84 million.
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