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Tribune News network
Doha
Nebras Power has reported an annual net profit of QR366 million for the year 2018, an increase of 10 percent compared to 2017, on the back of better operating performance of the asset portfolio, lower fixed costs and improved results from financial management.
The financial results were announced during the 5th Annual General Assembly meeting held at Nebras Power office in Burj Doha, the company said in a statement on Tuesday.
The meeting was chaired by Nebras Power Chairman Fahad bin Hamad al Mohannadi, and was attended by Nebras CEO Khalid Mohammed Jolo and other board members.
The company posted an operating profit of QR412 million, up 8 percent from 2017 (QR383 million).
The group’s total assets stood at QR6.82 billion in 2018, up 12 percent compared to 2017. The group’s net assets reached QR4.53 billion, up 9 percent from 2017.
Fahad said, “The steady growth in financial results since the company’s inception is the reflection of the quality of our asset portfolio and the sustainability of our business model.”
Khalid said, “The Group is consistently delivering on its strategy and business plan and it has made its mark as a global power company in a short period of time.”
Doha
Nebras Power has reported an annual net profit of QR366 million for the year 2018, an increase of 10 percent compared to 2017, on the back of better operating performance of the asset portfolio, lower fixed costs and improved results from financial management.
The financial results were announced during the 5th Annual General Assembly meeting held at Nebras Power office in Burj Doha, the company said in a statement on Tuesday.
The meeting was chaired by Nebras Power Chairman Fahad bin Hamad al Mohannadi, and was attended by Nebras CEO Khalid Mohammed Jolo and other board members.
The company posted an operating profit of QR412 million, up 8 percent from 2017 (QR383 million).
The group’s total assets stood at QR6.82 billion in 2018, up 12 percent compared to 2017. The group’s net assets reached QR4.53 billion, up 9 percent from 2017.
Fahad said, “The steady growth in financial results since the company’s inception is the reflection of the quality of our asset portfolio and the sustainability of our business model.”
Khalid said, “The Group is consistently delivering on its strategy and business plan and it has made its mark as a global power company in a short period of time.”
