Al Mahhar Holding Company (Q.P.S.C.) issued a voluntary update on its performance for the nine-month period extending from January 1 to September 30, 2023 (the first 9 months of 2023). All financial figures contained in this press release relate to unaudited and unrevised financial statements prepared by the management of Al Mahar Holding Company.
Al Mahar Company achieved total revenues of QAR 517 million in the first nine months of 2023. These revenue levels were achieved despite a challenging market environment for the infrastructure sector served by some of its subsidiaries. The significant increase in revenues achieved by subsidiaries serving the energy sector contributed to offsetting the decline in subsidiaries serving the infrastructure sector, and thus the share of revenues achieved by subsidiaries in the energy sector reached 89% of Al Mahhar Company’s total revenues.
- Revenues achievement worth 517 million riyals for Al Mahhar Holding Company in the first 9 months of 2023.
- Al Mahhar Company continues to benefit from emerging opportunities in the energy sector in Qatar
- 89% of Al Mahhar Company’s total revenues for the 9 months of 2023 were generated by its subsidiaries serving the energy sector
- A strategic decision to reduce exposure to the infrastructure sector
- Management confirms the positive outlook in particular regarding its subsidiaries that serve the energy sector
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