Woqod has posted a net profit of QR229.3mn in the first quarter of this year, up 12.3% on the same period in 2013.
The results were announced by Woqod CEO Ibrahim Jaham al-Kuwari after a meeting of the company's board of directors here yesterday.
The board meeting was originally slated for April 21 but postponed to April 29.
Earnings per share (EPS) for the period amounted to QR3 compared with QR2.4 for the same period last year.
Woqod's total assets stood at QR9.1bn compared with QR9.5bn for the same period in 2013.
Recently, Woqod said it expected to commission four new petrol stations in Qatar this year. They are currently under construction Al Wajba, Al Jumailieh, Al Thakheera and Al Wakrah.
Woqod was currently involved in the implementation of more than 35 projects, 14 of which are progressing and the others in the "design, tendering and approval" stages.
Five expansion projects for existing petrol stations are currently taking place at Al Thayen, Industrial Area, Al Hilal, Muaither, and Bu-Fasila. Completion is expected by end-2014.
Another five expansion projects are in the tendering stages and approval procedures. They are expected to be completed by end-2014 or early 2015.
Two vehicle inspection centres (Fahes) will be inaugurated at Al Mamoura and Wadi Al-Banat in due course.
The Al Mamoura project is already completed and tested.
Woqod had also said the LPG sales grew by 8% and the number of cylinders refilled and sold reached 1.3mn units (for metal cylinders) and 315,000 for Shafaf in the first quarter of 2014.
© Gulf Times 2014
