Gulf Cement Company profit up to QR22mn

Gulf Cement Company profit up to QR22mn
Published: 19 October 2007

Gulf Cement Company has reported a net profit of QR22.25mn in the first nine months of this year mainly due to its income from short-term deposits, which contributed more than 95% to total revenues.

The cement manufacturer’s earning per share was QR0.28 at the end of third quarter of this year, according to its financial statement.

Its total income was QR28.11mn, comprising QR26.72mn of income from short term deposits; QR0.41mn worth dividend from Industries Qatar shares; QR0.74mn worth gains from sale of ‘available-for-sale’ investments and other income of QR0.24mn in the review period.

The company’s general and administrative expenses were QR4.06mn in January-September this year. Its total assets were valued at QR881.86mn, comprising current assets of QR814.23mn and non-current assets of QR67.63mn