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Qatar Cement sees sales increase in 2013

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World Cement,

Qatar Cement has reported its results for the full year 2013, with a shareholder AGM set for 18 February. Sales were up, at QAR1004.08 million from 2012’s QAR964.279 million. The increase in sales made up for the increased costs, resulting in net profit of QAR436.059 million, above the QAR425.309 million achieved in 2012. Earnings per share increased to QAR8.88 from QAR8.66 in the previous year.

In January, World Cement reported that Qatar’s GDP rose 6.2% y/y in 2013 thanks, in part, to increased construction activity and infrastructure projects in the country. Real GDP is expected to continue to rise this year as the country prepares for the 2022 FIFA World Cup and caters to its growing population, which surged 11.4% y/y in 2013.

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