Sparks - Aamal Company

Aamal Company has announced its financial results for the first nine months of 2024, demonstrating robust performance, with net profit attributable to shareholders increasing by 13.9% to QR302.4m. Earnings per share improved to QR0.048, compared to QR0.042 for the same period of 2023. The company achieved revenue growth of 3.2% y-o-y, primarily driven by increased sales performance at Ebn Sina Medical.

Through continued financial discipline and effective cost management, Aamal Company strengthened its balance sheet, reducing gearing by 206bp year-on-year to 0.74%. The company increased its capital expenditure year-on-year by 61.2% to QR30.0m, from QR18.6m for the first nine months of 2023. This highlights its strategic focus on enhancing core operations, while pursuing both organic growth opportunities and strategic acquisitions to generate new revenue streams. Significant growth opportunities for Aamal Company continue to arise from the Qatar National Vision 2023 and new infrastructure projects underway across the region.