DOHA: The Qatar Industrial Manufacturing Company (QIMC) has recorded a net profit of QR208.2m in 2012, compared to QR206.2m in 2011.The 2012 full year net profit is up one percent compared to the previous year. The QIMC board of directors recommended the General Assembly for the distribution of 30 percent of cash dividends.
After the Board of Directors meeting, Sheikh Abdul Rahman bin Mohammed bin Jabor Al Thani, Chairman, announced the company’s assets has increased to QR1.53bn, up 7 percent, compared to the previous year. The total equity of the company’s shareholders has increased to QR1.30bn as against.QR1.25bn for 2011, an increase of 4 percent. The earnings per share (EPS) has reached QR5.3 compared with QR5.2 for the same period of 2011.
The Chairman said the General Assembly has been scheduled to be held on March 3, 2013. The agenda include absolving of the board members from liability for the financial year ending December 31, 2012 and their remuneration. Other items on the agenda include presentation of the Board of Directors’’ report on the Company’s activities, its financial position for the financial year ending December 31, 2012 and its future development plans; discussion and approval of the Company’s consolidated Balance Sheet and Profit and Loss Account for the financial year ending December 31st, 2012; external auditors’ appointment for the financial year 2013; Governance report of the company for the year 2012 and the election of the company Board Members for the next three years.
Sheikh Abdul Rahman said that the company will continue to maintain the ability to generate increased profits through investment and the QR172m capital spending proposed for the fiscal year 2013.
The Peninsula
