Qatar cement firm sees 78% jump in net gains

Qatar cement firm sees 78% jump in net gains
Published: 14 February 2008

Qatar National Cement Company (QNCC) yesterday reported 78% jump in net profit to QR355m in 2007.

The producer also recommended 70% cash dividend for its shareholders for the review year, according to a news item posted on the Doha Securities Market website.

Its earnings-per-share was QR9.95 in 2007 compared with QR5.60 in the previous year.
QNCC yesterday pared a huge 3.22% to QR147.20 in an otherwise bullish market. A total of 35,915 shares worth QR5.29mn changed hands across 77 transactions.
The company has decided to convene the annual general assembly meeting on March 16 to discuss the financial statement for 2007 and approve of the dividend distribution.