Mawashi H1 profit more than doubles to $11m
Doha, September 10, 2012
Mawashi, a cutting-edge livestock company in Qatar, has posted net profits reaching QR41.7 million ($11.45 million) during the first half of 2012, compared to QR18.5 million over the same period last year, its CEO said.
Ahmad Nasser Sraiya Al Kaabi, managing director and chief executive officer of Mawashi, said: “Our outstanding figures strongly highlight our steadfast commitment to provide highest quality products and services.”
“These results are owing to our team’s unfaltering efforts to bring forth unmatched standards of professionalism with global best practices and processes linked to our deep-rooted understanding of market and customer needs.
“As a matter of fact, our achievements have been accentuated with the latest accolade Mawashi has won in June of this year in Paris, France, an award that recognizes world-class quality management across the board.”
Al Kaabi also said that the company witnessed a QR2.32 return on its stock price up from QR1.03 registered in the first half of 2011 and representing, thus, an increase of 125 per cent; that’s in addition to a 38 per cent rise in sales. Mawashi’s profits were 100 per cent operational.
Al Kaabi added that Mawashi will continue with its ambitious expansion plans in order to achieve maximum return on stock price by putting to use its entire capabilities and resources before end of 2012 in order to be ready to cater to the growing market needs and demands by the beginning of 2013.
At Mawashi, Al Kaabi’s long-term strategy relied on investment in industrial agriculture in order to serve the vision and objectives of the Qatar National Food Security Program, Al Kaabi said.
The strategy also included investment in food sources outside Qatar and future investments in value-added food manufacturing chains and renewable energy industry processes in order to support the country’s food security endeavors.
Al Kaabi also expanded beyond Qatar with branches in Sudan alongside worldwide deals that bring to the market the best quality meat and livestock by land, sea and air.
Mawashi is currently moving towards an increased focus on food security that goes well beyond trading in meat and livestock, Al Kaabi explained.
The company is also looking into further diversifying its portfolio by tapping into the fish and poultry industry as part of its future projects and plans that are under research for the future, he added. – TradeArabia News Service