Qatar National Cement has reported a net profit of QR172mn on revenue of QR703mn and suggested a 30% cash dividend for the year ended 2019.
The company is planning to add new types of cement to meet the growing demand in the local market and also exploring the feasibility of tapping export markets this year, said Salem bin Butti al-Naimi, chairman of Qatar National Cement, after its board meet to discuss the 2019 financial statements.
The production in both categories of cement (ordinary portland and sulphur resistant) reached 2.2mn tonnes in 2019 against 2.9mn tonnes the previous year. The production of washed sand was 4.8mn tonnes in 2019 (7.8mn tonnes a year ago) and calcium carbonate production at 46,000 tonnes (47,000 tonnes in 2018).
Sales of all types of cement reached 2.6mn tonnes in 2019 against 2.9mn tonnes in 2018, washed sand 5mn tonnes (7mn) and calcium carbonate 49,000 tonnes (47,000 tonnes).
The shareholders’ equity stood at QR3.09bn at the end of December 31, 2019. On the proposed plans for this year, the company said it would continue supporting the infrastructure of the country to meet the market demand of various products with competitive price.
It aims to “diversify the production by adding new types of cement to meet the demand of local market and explore the possibility of exporting” as well as utilise the optimum production capacity of washed sand and calcium carbonate to meet the expected local market demand to achieve the targeted goals of the company.
Bangladesh trade and investment expo at DECC from today
Bangladesh Embassy in Qatar and Bangladesh Forum Qatar are jointly organising a three-day trade and investment exhibition at the DECC from today.
The event is patronised by the Export Promotion Bureau of Bangladesh and sponsored by Qatar Financial Center (QFC) and supported by Qatar Chamber and Qatar Businessman Association.
The event kicks off at 10am.
A high-level economic delegation from Bangladesh is in Doha to take part in the event, led by adviser to the Prime Minister of Bangladesh, Salman F Rahman.
The delegation includes top officials from Bangladesh Industrial Development Authority, Export Promotion Bureau, Bangladesh Economic Zones Authority, Bangladesh High Tech Parks Authority and industry leaders from different sectors; and more than 60 participating Bangladeshi companies.
The event is expected to give companies from both countries opportunity to interact through B2B meetings at the venue. Those interested can pre-register online for the event at http://mib2020qatar.com
A seminar will be taking place at the event venue from 10:30am with speakers from both countries including Rahman, Yousuf al-Jaida, CEO and Board member of Qatar Financial Center and Dr R Seetharaman, Group CEO of Doha Bank.
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