Doha – Mubasher: Mubasher Trade Research (MTR) maintained its ‘Buy/Low Risk’ rating on Qatar Electricity and Water (QEWC) share, setting a target price of QAR 243.6 per share.
“Q4 2015 results reflected squeezed margins on higher COGS. However, on a full-year basis, margins were stable,” said the research firm.
The company earlier posted a net profit of QAR 360 million in the fourth quarter of 2015, almost the same profit of the same period of 2014.
The company’s annual profit reached QAR 1.54 billion, versus QAR 1.53 billion in 2014, down by 2%.
Q4-15 revenues rose by 19% due to high water sales and the continuous improvement in operational performance.
