Qatar Fuel profits triples in Q4-17

Qatar Fuel profits triples in Q4-17
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Woqod QFLS -0.04% 141.45 -0.05

Mubasher: Qatar Fuel has reported a surge in profits for the fourth and last quarter of last year, according to a bourse filing.

Profits increased by 202.8% year-on-year to QAR 321 million, compared to QAR 106 million for the same period in 2016.

Annual profits also grew by 9.2% to QAR 964 million, up from QAR 883 million in the year before.

The company’s board of directors has recommended the distribution of cash dividends at 80% of the company’s capital or QAR 8 per share, with a total amount of QAR 798.4 million for the year 2017.

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Source: Mubasher