Woqod Net Profit in 2016 Drop 15.8% to QR 883.1 Million   
The Board recommended distributing 70% cash dividend and 9% bonus shares
 
February 19, 2017   

Net profit for Qatar Fuel (Woqod) in 2016 amounted to QR 883.11 million compared to QR 1050 million in the corresponding period last year. Earnings per share stood at QR 9.68 versus QR 11.51 in the corresponding period in 2015.The Board of Directors recommended distributing a cash dividend of QR 7   per share  in addition to 9% bonus shares (i.e. 9 shares for every 100 shares).
 
The Group Securities Comment:

Qatar Fuel Company (Woqod) sales value in 2016 increased by the rate of 5% to QR 13.84 billion and the cost of sales rose by 6.7% decreasing the total profit by 6.4% to QR 1589.1 million. Other revenues decreased by 4.4% to QR 475.2 million while the general and administrative expenses rose by 3.9% to QR 1089.2 million. As a result, the net profit attributable to shareholders decreased by 15.9% to QR 883.1 million and the comprehensive income decreased to QR 870.1 million as a result of a decrease in the fair value of investments worth QR 17.7 million.