Aamal Company officials addressing the AGM.
Doha: Aamal Company Q.P.S.C.” (Aamal), one of the region’s most diversified companies, held its Annual Ordinary General Assembly Meeting, after the quorum was achieved on Tuesday, 7 March 2023 at Marriott Marquis City Center Doha, at Al Areen Ballroom.
The Assembly approved the proposal of the Board of Directors to distribute dividends to the current shareholders at a sum of 5 percent of the nominal value of each share of the Company that they own (i.e. QR 0.05 per share).
After the quorum was achieved, Sheikh Faisal Bin Qassim Al Thani - Chairman of Aamal Company – welcomed the attendees saying: “On behalf of the members of the Board of Directors, I am delighted to welcome you to the Ordinary General Assembly Meeting of Aamal Company. It is with great pleasure that I welcome you to Aamal Company’s Ordinary General Assembly Meeting. Aamal was able to achieve outstanding results during the year 2022 and in all sectors in which we operate.
A number of factors have contributed to this success, including our diversification strategy, the strength of the Company’s financial position, and the ability to further develop its activities. However, one of the most important factors is the resilience and strength of the Qatari economy, and the keenness of our wise government to create a distinctive and safe environment for investment under the leadership of H H the Amir Sheikh Tamim bin Hamad Al Thani.We will continue to achieve more success, and I would like to thank our shareholders for their confidence in the company, and to thank our Board Members and executive management for their guidance and efforts in managing the Company and enabling it to achieve growth during 2022.
Thank you for being with us today.” The Assembly proceeded to discuss the items on the agenda of the Ordinary General Assembly meeting as follows: (1) To hear and approve Chairman’s report on the Company’s activities and the financial position for the financial year ended 31 December 2022, and hearing the Company’s future business plan.Sheikh Mohammed Bin Faisal Al Thani, Vice Chairman of the board and Managing Director, delivered the Chairman’s report as follows:
“In the name of God, the Most Gracious, the Most Merciful, honorable shareholders, representatives of the Companies Affairs Department and representatives of the esteemed auditors: Thank you for your attendance today at the Ordinary General Assembly Meeting of Aamal Company. On behalf of the Board of Directors, I am delighted to present Aamal Company’s 2022 Annual R port.
For Aamal, 2022 was a year of growth and recovery and the Board is pleased to report a strong set of financial results with attributable net profit growth of 14 percent to reach QR 347.8m, and revenue growth by 29 percent to reach QR2,058.9m.
Aamal’s subsidiaries are always seeking to capitalise on new opportunities and maintain their market leading positions by enhancing and expanding their offerings.
This reflects our commitment to creating long-term shareholder value through the continued profitable operation and expansion of our diversified business platform.
