DOHA: The demand for petroleum products rose 14.7 percent to 1,870 million litres in the first quarter (Q1) of this year over the same period of 2014, Woqod said here the other day while reporting its net profit for the quarter which was QR237m ($65.1m).
The net profit grew 3.5 percent over Q1 of 2014 while earning per share (EPS) amounted to QR2.81 as against QR2.71 for last year.
Woqod (Qatar Fuel), local petroleum products distributor, said in a statement that sales expected to increase significantly in the coming period after the commissioning of Hamad International Airport (HIA).
Liquefied petroleum gas (LPG, which is cooking gas) sales rose 8 percent in Q1 of this year and the number of refilled and sold cylinders 1.3 million units for metal and 472,000 for Shafaf (transparent).
The company’s board of directors met here yesterday headed by chairman Sheikh Saoud bin Abdulrahman bin Hassan Al Thani to discuss its financials for Q1 of 2015.
Woqod’s CEO, Ibrahim Jaham Al Kuwari announced after the board meeting that aside from the company’s financials, the directors reviewed several current and future projects as well.
Total assets of the company reached QR9.4bn ($2.6bn) as it decreased by 10 percent from last year’s figures, with total shareholders’ equity being QR6.1bn with a 9.4 percent decrease compared to last year.
