Qatar fuels 2013 net profits at $330m

Qatar Fuel (Woqod) said Monday its net profits for 2013 increased by 5.75 compared to the year before to reach 1.2 billion Qatari Riyals (USD 330 million). Woqod said in a statement its Board members recommended distribution of 100 percent dividends of the paid capital, or 10 riyals per share, and 30 percent bonus shares. They also discussed progress of the company's projects. Woqod Vice-Chairman of the Board and Managing Director Mohammad Al-Subai said the profit per share has increased to 18.72 riyal per stock against 17.7 riyals in 2012. The statement said Woqod's assets surged by 20.45 percent in 2013 to top 9. 7 billion riyals, while shareholders' equity jumped by 15.47 percent to 6.3 billion riyals.