QIMC has achieved a net profit of QR 168.8 million in 2015
The Board of Directors of Qatar Industrial Manufacturing Company (QIMC) held its first meeting of 2016 on Sunday 07/02/2016. H.E. Sheikh Abdul Rahman bin Mohammed Bin Jabor Al Thani – Chairman of the Board presided over this meeting and adopted the final consolidated financial statements for the year ending 31/12/2015. After the meeting, H.E. the Chairman of the Board was pleased to announce that the company has achieved a net profit of QR 168.8 million, compared to QR 160.9 million for the same period in 2014. The company’s assets has increased to QR 1,848,255,505 with an increase of 6.7% compared to last year and the total equity of the company’s shareholders is QR 1,488,570,961 compared to QR 1,507,856,641 for 2014. The earnings per share (EPS) has reached 3.55 riyals compared with 3.39 riyals for the same period of 2014.
H.E. the Chairman of the Board also explained that the Board of Directors has agreed to convene the Ordinary General Assembly to be held on Sunday 13/03/2016 at 4:00 pm in Radisson Blu Hotel, Giwana Ballroom to submit recommendations for the distribution of (30%) Cash Dividend and the adoption of the following agenda:
1) Hearing of the Board of Directors’ report on the Company’s activities, its financial position for the financial year ending December 31st, 2015 and its future development plans.
2) Hearing of the Auditors’ report on the Company’s final accounting statements for the financial year ending December 31st, 2015.
3) Discussion and approval of the Company’s consolidated Balance Sheet and Profit & Loss Account for the financial year ending December 31st, 2015.
4) Adoption of the Board of Directors’ resolution to distribute (30% of nominal shares) QRs 3.00 per share, dividend for the financial year ending December 31st, 2015.
5) Absolve Board Members from liability for the financial year ending December 31st, 2015 and determination of their remunerations.
6) External auditors’ appointment for the financial year 2016 and determination of their remuneration.
7) Review of Governance report of the company for the year 2015.
8) Election of board of directors for the next three years i.e. (2016 – 2018).
On this occasion, H.E. Sheikh Abdul Rahman Bin Mohammed Bin Jabor Al Thani, Chairman of the Board of Directors expressed his deep gratitude for the kind patronage and continuous support of H.H. Sheikh Thamim Bin Hamad Al-Thani, Emir of Qatar and H.E. Sheikh Abdulla Bin Nasser Khalifa Al-Thani, Prime Minister and Minister of Interior.