Qatar Industrial Manufacturing Company plummets on annual results
The QE 20 Index advanced by 0.80 per cent to 11,452.97 points on Wednesday, February 12. The shares of Qatar Industrial Manufacturing Company (QIMC) closed 5.07 per cent lower at QAR50.60. Earlier in the day, the firm disclosed the financial statements for the year ending December 31, 2013. The financials revealed a net profit of QAR202.1 million in 2013, versus QAR208.2m in 2012 and the earnings per share amounted to QAR5.11 last year, compared with QAR5.26 in 2012. QIMC’s board of directors is pleased to include in its agenda, which will be held on March 2, 2014, a recommendation to distribute 20 per cent bonus shares.