QNCC full-year profit up 10%

Qatar National Cement Company (QNCC) reported a 10.28 per cent rise in net profit to QAR463.5m (US$127.3m) for the 12 months to the end of December 2015 compared to QAR420.3m in the same period in 2014.

Earnings per share grew to QAR 8.58 in 2015 compared to QAR7.78 a year earlier, according to a Qatar Stock Exchange bulletin. QNCC Board of Directors have recommended distribution of 40 per cent cash dividends and 10 per cent bonus shares.

The company is currently constructing a fifth kiln line, which is scheduled to be operational in October 2016.