Woqod Net Profit Up 9.1% to QR964 Million; Board Recommends Dividends of QR8 per Share

March 1, 2018

Qatar Fuel (Woqod) net profit amounted to about QR964 million in 2017, compared to QR883 million for the same period last year. The company’s earnings per share recorded QR9.7 versus QR8.9 in 2016, while the Board of Directors recommended a distributing QR8 per share in cash dividends.

The Group’s Comments:

Woqod’s gross profit generated from sales decreased by 6.6% to QR1,078.7 million in 2017. Other income increased by 29.4% to QR395.9 million, while all expenses decreased by 22% to QR378.6 million. As a result, the net profit increased by 9.2% to QR964.1 million, but the comprehensive income decreased to QR710.5 million.