Aamal Q P S C : Half Year Financial Results 2022

Aamal Company Q.P.S.C.

Condensed Consolidated Interim Financial Information for the six-month period ended 30 June 2022

Aamal Company Q.P.S.C.

Condensed consolidated interim financial information for the six-month period ended 30 June 2022

Contents	Page(s)
Report on review of condensed consolidated interim financial information	1
Condensed consolidated interim statement of financial position	2
Condensed consolidated interim statement of profit or loss and other comprehensive income	3
Condensed consolidated interim statement of changes in equity	4
Condensed consolidated interim statement of cash flows	5
Notes to the condensed consolidated interim financial information	6-19

Independent auditor's report on review of condensed consolidated interim financial information

To the Shareholders

Aamal Company Q.P.S.C.

Introduction

We have reviewed the accompanying 30 June 2022 condensed consolidated interim financial information of Aamal Company Q.P.S.C. (the "Company") and its subsidiaries (together the "Group"), which comprises:

• the condensed consolidated statement of financial position as at 30 June 2022;
• the condensed consolidated statement of profit or loss and other comprehensive income for the six-month period ended 30 June 2022;
• the condensed consolidated statement of changes in equity for the six-month period ended 30 June 2022;
• the condensed consolidated statement of cash flows for the six-month period ended 30 June 2022; and
• notes to the condensed consolidated interim financial information.

The Board of Directors of the Company is responsible for the preparation and presentation of this condensed consolidated interim financial information in accordance with IAS 34, 'Interim Financial Reporting'. Our responsibility is to express a conclusion on this condensed consolidated interim financial information based on our review.

Scope of Review

We conducted our review in accordance with the International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying 30 June 2022 condensed consolidated interim financial information is not prepared, in all material respects, in accordance with IAS 34, 'Interim Financial Reporting'.

Other Matter

The Company's condensed consolidated interim financial statements as at and for the six-month period ended 30 June 2021 were reviewed, and the consolidated financial statements as at and for the year ended 31 December 2021 were audited, by another auditor whose reports dated 10 August 2021 and 23 February 2022 respectively expressed an unmodified review conclusion and audit opinion thereon.

27 July 2022	Gopal Balasubramaniam
Doha	KPMG
State of Qatar	Qatar Auditors' Registry Number 251 Licensed by QFMA:
	External Auditor's license No. 120153

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Aamal Company Q.P.S.C.

Condensed consolidated interim statement of profit or loss and other comprehensive income For the six-month period ended 30 June 2022

(All amounts expressed in Qatari Riyals unless otherwise stated)

		Six-month period ended 30 June
		2022	2021
	Note	(reviewed)		(reviewed)
Revenue	17	974,391,269	710,674,894
Direct costs	18	(744,712,619)		(518,229,049)
Gross profit		229,678,650	192,445,845
Other income		1,859,635	97,429
Marketing and promotion expenses		(5,044,684)	(3,505,260)
General and administrative expenses		(77,447,244)	(71,697,342)
Provision / (Reversal) of expected credit losses on financial assets		(1,834,998)		475,688
Operating profit		147,211,359		117,816,360
Finance income		1,394,184	2,750,480
Finance costs		(12,374,867)		(11,196,661)
Finance costs - net		(10,980,683)		(8,446,181)
Share of results of equity-accounted investees	4	22,309,169		21,684,897
Profit for the period		158,539,845	131,055,076
Other comprehensive income		-		-
Total comprehensive income for the period		158,539,845	131,055,076
Attributable to:
Equity holders of the Company		156,433,548	129,487,652
Non-controlling interests		2,106,297		1,567,424
		158,539,845	131,055,076
Basic and diluted earnings per share
attributable to equity holders of the Company
(expressed in QR per share)	13	0.025		0.021

The notes on pages 6 to 19 form an integral part of this condensed consolidated interim financial information.

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