(The Group’s Comments) Woqod’s Net Profits Rise to QAR 548 Million in the First Half of 2019

July 18, 2019

Profits: increased by 8.95% to QAR 548.3 million in the first half of 2019, compared to QAR 503.2 million in the same period last year, while earnings per share recorded QAR 0.55 versus QAR 0.51 for the corresponding half of 2018. Woqod’s profits for the second quarter reached QAR 221.4 million, while they stood at QAR 202.0 million in the same period of 2018. It is worth mentioning that Woqod posted a profit of QAR 326.9 million in the first quarter of this year.

Comprehensive Income: Woqod made an estimated valuation profits of QAR 21.2 million in this first half, versus a loss of QAR 7.4 million for the same period of 2018.

Revenues: rose by QAR 146 million or 1.3% to QAR 10,964 million. The number of petrol stations the company had opened in the first half of 2019 reached 85, compared to 58 for the same period last year, and Woqod plans to open 29 more stations before the end of this year.

Revenues Cost: also increased by 1.3% to QAR 10,386 million, and the ratio of revenue cost to revenue stood at 94.7%. Consequently, the total profit reached QAR 578.2 million in this half, compared to QAR 566.9 million for the corresponding period of 2018. As for the profit margin, Woqod managed to improve it by 5% in this year’s half, instead 4.65% for the corresponding half of 2018.