QNA
doha
The net profits of Qatar Fuel Company (Woqod) rose by 9.5 percent in the first half of 2024, to reach QR 481.923 million, compared to QR 440.177 million for the same period of the previous year.
Data issued by the company and posted on the Qatar Stock Exchange website on Thursday showed that the return on share amounted to QR 0.48 in the period ending June 30, 2024, compared to earnings per share of QR 0.44 for the same period last year.
Woqod CEO and Managing Director Saad Rashid Al Mohannadi explained that the board of directors decided to distribute interim cash dividends of 0.40 per share, so that the dividends will be due to the shareholder owning the share on the seventh business day from the date of issuing the decision that is at the close of the trading session on Sunday and Ebdaa Company will manage the process of distributing interim cash dividends.
Al Muhannadi also explained that the total fuel sales volume for the period have increased by 10 percent compared to the same period of the year 2023, driven by the increase in Jet fuel sales by 16 percent. As for the petrol stations project, Al Muhannadi explained that it is expected that another station will be added in the third quarter of 2024.
Al Muhannadi also mentioned that the construction of petrol stations is a dynamic exercise, that Woqod, in cooperation with Kahramma, has completed installation of 25 EV charging points at 19 petrol stations, as well as working on many initiatives to improve the non-fuel revenue duringthis year.
Al Muhannadi indicated that Woqod will move forward in enhancing the benefits of its valued shareholders and all stakeholders by taking appropriate initiatives in developing the downstream oil andgas sector.
