Qatar Electricity and Water posts profit of QR 661 million

DOHA: Qatar Electricity and Water (QEWC) posted a net profit of QR 661 Million (net of non-controlling interests) for the half-year ended June 30, 2020 against QR 620 million for the same period of the year 2019.

The Earning per Share (EPS) amounted QR 0.60 in 2020 compared to QR 0.56 for the same period of the year 2019. The first Half Year of 2020 showed sales of QR 1,255 Million compared to QR 1,143 Million for the same period of the year 2019.

The Board of Directors of Qatar Electricity and Water (QEWC) held its third meeting for the year 2020 on Sunday, 19 July 2020 chaired by E. Saad Sharidah Al Kaabi, Minister of Energy Affairs and Chairman of the QEWC’s Board of Directors, through visual communication technology.

The Board discussed the positive financial results for the Half Year ended 30 June 2020, and the financial position as at that date which was reviewed by the auditors of the company M/s. Ernst & Young.

The Board also discussed the precautions taken by QEWC and its group companies to confront the outbreak of the Corona virus and its effect on generation and desalination plants. In line with the Qatar’s efforts to combat the spread of the virus, QEWC will ensure continued production of electricity and water with high efficiency during this summer period.

The Board expressed satisfaction with the company’s financial performance, and expressed its optimism that the company will have a promising future with projects and excellent future strategies.

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