Doha, Qatar: Woqod announced that its Board of Directors chaired by Ahmed Saif Al Sulaiti approved the financial results and key performance and operational indicators of Woqod Group for the nine-months period ended on 30 September 2024 compared to the financial and operational results for the same period of 2023.

The Board also approved the Group Capital and Operational Budget for the year 2025.

Woqod Group’s consolidated net profit (attributable to the shareholders of WOQOD) for the period ended 30th September 2024 amounted to QR771m, compared to an amount of QR712m achieved for the same period of 2023, showing an increase of QR59m, representing an increase rate of 8%.

The earnings per share for the period amounted to QR0.78 compared to QR0.72 for the same period last year. The increase in net profit and earnings per share was attributable to increased demand for petroleum products during the reporting period.

In the field of the petrol stations projects, Saad Rashid Al Muhannadi, Managing Director and CEO, pointed out that the company intends to add another station in the last quarter of this year.

He stressed that Woqod's plan in stations construction is a dynamic plan whereupon the stations are built on as and when basis i.e.as per the current and future requirements to build/avail a petrol station. He further explained that the company has completed installation of 22 Electrical Vehicle Chargers EVC in 19 petrol stations in cooperation with Kahramaa.

Al Muhannadi also explained that the company has embarked on initiatives ‏ to increase the income from non-petroleum products segments, which the company already started their implementation effective from the current year.

In conclusion, Al Muhannadi indicated that Woqod Group will continue deploying all efforts in enhancing the benefits of its shareholders and all stakeholders, by taking appropriate initiatives to achieve the highest rates of efficiency and effectiveness in all areas of its scope of business, and will continue its efforts in developing the petroleum products distribution sector, and securing the permanent supply of fuels in accordance with the best applicable international standards in the fields of health, and environmental considerations, in addition to supporting the sector by introducing an e-charging system for cars and supplying compressed natural gas.

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