DOHA: Qatar Fuel’s (WOQOD) net profit for the first half of 2013 (H1 2013) has declined by QR8m or 1.4 percent, compared to the same period in 2012. WOQOD’s H1 2013 net profit, after excluding minority interest, is QR553m against QR561m for the first half of 2012.
Despite the increase in capital base through issuing 25 percent bonus shares in 2012, earning per share (EPS) amounted to QR8.50 as compared to QR8.63 for the same period of 2012.
WOQOD’s Board of Directors meeting, chaired by H E Abdullah bin Hamad Al Attiyah, Chairman of the Administrative Control and Transparency Authority and the Chairman of the Board of Directors, yesterday discussed the financial results of the first half of 2013.
Announcing the results, Vice-Chairman and Managing Director, Mohamed Turki Al Sobai said the company’s total assets reached
QR8.4bn, up by 11 percent from H1 2012. Total equity recorded a growth rate of 14 percent to reach QR5.6bn for H1 2013.
Al Sobai added that WOQOD is currently involved in implementation of more than 37 different projects. On the petrol stations’ projects, he said : “In addition to the opening of Roda Al Hamam station at the North Highway, 4 petrol stations: Abu Samra, Mesaieed West, Mesaieed North and the Pearl are completeand are expected to be opened when the Civil Defence permits are issued. Sixteen other projects are either undergoing the process of approval, or are in the tendering stages and are expected to be complete in 2014.”
The project of Saudi Arabia is in the stage of tendering and will be launched in the second half of 2013.
Eleven expansion projects for existing petrol stations, and other locations, are in progress at Al Thayen, Al Hilal, Industrial Area, Dukhan, Muaither, Bu Fasila, Al Gharrafa, West Bay, Seylia, and Mesaimeer. Most of these expansions are nearly complete and expected to be opened during the second half of 2013.
Two technical inspection centres located at Mesaimeer petrol station and Wadi Al Banat (North University) petrol stations are complete and are fully equipped. Soft opening is going on and official inauguration will take place when the software is completely tested.
The Peninsula
