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Qatar Electricity and Water Company (QEWC) general manager Fahd bin Hamad and vice chairman Issa Shahin al-Ghanim are seen along with members of the board of directors at the company’s annual general body meeting at the Ritz-Carlton Doha yesterday. There was a marginal rise in the annual total revenues of QEWC in 2015 compared with 2014. While the total revenues rose to QR3.49bn against QR3.48bn in 2014, there was a marginal fall of 2% in net profit; from QR1.53bn in 2014 to QR1.50bn last year. Operational income for 2015 stood at QR2.98bn against QR2.89bn in the previous year, an increase of 3%. Income from joint venture companies grew to QR409mn from QR393mn the previous year. However there was a fall in other income to QR107mn against QR190mn. Total operational expenses for 2015 was QR1.67bn against QR1.62bn the previous year. General and administration expenses fell to QR183mn in 2015 from QR232mn. There was a 9% increase in financing expenses in 2015 compared to the previous year; while it was QR92mn in 2014, the figure rose to QR100mn. Net profit attributable to minority share holders amounted to QR35mn compared to QR36mn the previous year. Based on the results of the performance, the board has recommended a cash dividend of 75% of the nominal value per share.
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