Doha, Qatar: Qatar Fuel Company (WOQOD) announced that its Board of Directors held its Second Meeting for the year 2025 at 1:30 PM yesterday under the chairmanship of Ahmed Saif Al-Sulaiti. The Board discussed the performance of the business operations and the financial results of WOQOD Group for the First Quarter ended on 31 March 2025, compared to the results achieved in the corresponding period of the year 2024.
WOQOD Group net profit for the period (excluding minority rights) amounted to QR230m, compared to an amount of QR243m achieved in the same period in the year 2024, with a decrease of QR13m, representing a decrease of 5%. The earnings per share for the period amounted to QR0.23 per share compared to QR0.24 for the same period of last year. The decrease in net profits and earnings per share was driven by the decrease in sales volumes by 3% based on supply and demand factors.
In respect of petrol station projects Saad Rashid Al-Muhannadi, Managing Director & Chief Executive Officer indicated that the construction of Al-Nigyan-2 station has been completed and the company plans to operate it during the Second Quarter of 2025. He also explained that the company intends to start building four new petrol stations and one technical inspection center during the year 2025, indicating that WOQOD has a dynamic plan for the construction of new petrol stations that is being reviewed periodically according to demand conditions and the need for petrol stations.
In conclusion, Al-Muhannadi assured that WOQOD Group will exert all efforts to enhance the service levels, continue to focus on the efficiency improvement and operational excellence, and take all other viable measures in furtherance the achievement of its vision, mission and strategic goals towards building a modern and robust distribution sector within the country, in furtherance the general policy of the State of Qatar in the modernization of infrastructure facilities, as well as providing its services according to the best QHSSE standards, and achieving the best results for its valued shareholders.
