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Woqod records QAR 202m profit in Q2

Woqod records QAR 202m profit in Q2
EPS recorded QAR 5.06 for the six-month period ended June
Woqod
QFLS
0.27% 14.77 0.04

Mubasher: Qatar Fuel (Woqod) on Monday posted a 2.7% year-on-year increase in its profits for the second half of 2018.

Net profits amounted to QAR 201.8 million ($55.8 million) in Q2-18, compared to QAR 196.5 million ($53.9 million) in Q2-17, according to the company’s statement to Mubasher.

For the first half of 2018, Woqod’s net profits hiked 34.9% to QAR 503 million, from QAR 373 million in H1-17.

Earnings per share (EPS) recorded QAR 5.06 for the six-month period ended June, versus QAR 3.75 in the same period of the previous year.

Operating costs and expenses were significantly reduced during the January-June period of 2018, resulting in achieving an additional income of QAR 72 million, according to the statement.

It is worth noting that the first half of this year witnessed the completion and operation of six new stations, increasing the total stations operated by Woqod to  60 stations, the statement showed.  

As for Q1-18, net profits surged 55.3% year-on-year to QAR 317.8 million.

By the end of Monday’s session, Woqod’s stock went up 0.36% at QAR 146.52.