Qatar National Cement full-year net profit falls 5%

Qatar National Cement, the country’s principal cement producer, reported a five per cent drop in 2011 net profit to QAR44.65m (US$12.3m) as revenues slipped.

Revenue was down by nine per cent to QAR989.62m but cost f sales fell faster by 12 per cent to QAR10.72m, leading to a six per cent decline in gross profit to QAR478.91m, the Gulf Times reported.

However, the company has recommended a cash dividend which will have to be approved by shareholders at the annual general assembly scheduled for 14 March 2012.