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Woqod FY18 profits soar to QAR 1bn; dividends proposed

Woqod FY18 profits soar to QAR 1bn; dividends proposed
Earnings per share (EPS) stood at QAR 11.67 in FY18
Woqod
QFLS
-1.05% 19.77 -0.21

Mubasher: Qatar Fuel (Woqod) registered an increase of 4.4% year-on-year in profits during the fourth quarter of 2018.

Earnings rose to QAR 335 million ($92.8 million) in Q4-18 compared to QAR 321 million ($89 million) in Q4-17, according to a bourse statement.

During fiscal year 2018, Qatar Fuel achieved a growth of 20.3% in profits to QAR 1.16 billion from QAR 964 million in FY17.

Earnings per share (EPS) stood at QAR 11.67 in FY18 compared to QAR 9.7 in the previous year.

The board members of Qatar Fuel recommended distributing 80% of capital as cash dividends for FY18 or QAR 8 per share; this proposal will be discussed during the company’s ordinary general meeting (OGM) on 25 March.