29/04/2026 03:52 AST
Aamal Company has reported net profit of QR90.7mn in the first quarter (Q1) of 2026, translating into earnings-per-share of QR0.014.
The company's total revenues amounted to QR464.8mn in Q1-2026.
However, net earnings and revenues shrank 11% and 19.9% respectively in January-March 2026 on an annualised basis.
"Aamal's results for Q1-2026 reflect a challenging period, with declines in revenue and net profit driven largely by strong competition and unfavourable market developments within the trading and distribution segment," said Rashid bin Ali al-Mansoori, chief executive officer.
Nonetheless, he said, the broader performance highlights the resilience of the company's underlying operations at a time of notable uncertainty, underpinned by continued delivery against strategic priorities and a disciplined focus on execution across the group.
In property, the group recorded revenue growth supported by the addition of Aamal Tower to its portfolio and the continued resilience of City Center Doha, where revenues were "stable" and tenant demand remained "supportive", he said.
In trading and distribution, performance was principally affected by the healthcare sector's ongoing shift towards generic medicines, which impacted Ebn Sina Medical, alongside a more competitive market environment, al-Mansoori said.
Aamal Medical was however able to deliver strong growth in both revenue and profitability, while in managed services; Maintenance Management Solutions and Aamal Services presented a good performance, helping to partially offset softer contributions elsewhere in the segment.
In the industrial manufacturing, the performance was shaped by a mix of operational and market factors. Aamal Readymix and Senyar Industries were affected by pricing pressure and project delivery delays, while Aamal Maritime's results reflected the dry-docking of one vessel and softer global shipping rates. Aamal Cement was however able to deliver a notable improvement in profitability.
"Looking ahead, the near-term outlook has become less certain in light of current regional developments. We remain highly attentive to the evolving geopolitical environment, but we are confident in the resilience of Aamal's diversified business model and in the ability of our management teams to navigate potential challenges and continue delivering sustainable growth for our stakeholders," said al-Mansoori.
Sheikh Mohamed bin Faisal al-Thani, vice-chairman and managing director of Aamal, said Aamal's Q1 results reflect a softer period for the group, with lower revenue and net profit year-on-year.
"While performance during the quarter was affected by challenging market conditions in certain areas, we remain confident in the underlying strength, resilience and long-term direction of the business. Aamal continues to benefit from a diversified model, high-quality assets and established market positions across a range of sectors," he said.
Looking ahead, the group is hopeful the near-term environment would become more encouraging and for current regional developments to stabilise.
"Nevertheless, we remain confident Qatar's stability and economic strength as well as in Aamal's ability to navigate evolving conditions with discipline and resilience. Grounded in the group's diversified foundations, clear strategic direction and enduring focus on long-term value creation, we are confident that Aamal remains well placed to navigate evolving conditions and to continue generating sustainable prosperity for all stakeholders," according to him.
The group's net capital expenditure increased by 15.8% year-on-year to QR7.6mn and gearing rose to 7.01% in the review period.
Gulf Times
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