Qatar Meat and Livestock Company (Mawashi) has reported a more than doubled net profit to QR41.71mn in the first six months of this year on robust sales.
The 38% increase in sales, exceeding 80% of the company’s production capacity, has led to a 125% rise in stock profits on the account of the company’s steady managerial and production expenses, according to its spokesman.
“Mawashi will continue with its ambitious expansion plans in order to achieve maximum return on stock price by putting to use its entire capabilities and resources before end of 2012 in order to be ready to cater to the growing market needs and demands by the beginning of 2013,” its managing director and CEO Ahmad Nasser Sraiya al-Kaabi, said.
The company witnessed QR2.32 earnings per share from QR1.03 in the first half of 2011 and representing, thus, an increase of 125%; that’s in addition to a 38% rise in sales, he said, adding the first half profits were 100% operational.
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