Aamal Company has reported a 5% jump in its January-June 2011 net profit to QR103.32mn mainly due to its industrial manufacturing, managed services and real estate divisions.“This very encouraging performance reflects the solid foundations laid to position the company for robust and sustainable growth as we seek to capitalise on the opportunities that are being created by the wider industrialisation of the Qatari economy,” Aamal Company chairman Sheikh Faisal bin Qassim al-Thani said.Revenue rose 38% to QR781.20mn whereas direct costs grew faster at 47% to QR571.57mn, thus leading to a 17% growth inn gross profit to QR209.63mn, according to its financial statement filed with the Qatar Exchange.Focusing more on industrial manufacturing and related high growth sectors in the future, Sheikh Faisal said “we will be commencing commercial production at our latest ready mix plant, the largest in the Middle East, increasing annual capacity to 600,000 cubic meters from 347,000 cubic meters.”This increased industrial focus is expected to be Aamal’s principal driver of growth, at least in the short to medium term, he said, adding the industrial manufacturing division now makes up 51.3% of total revenue and 19% of net profit compared to 40.9% and 16.6% respectively for the corresponding period in 2010.The industrial manufacturing division has seen significant growth in its revenue principally due to Doha Cables (which commenced production in May 2010) and growth at El Sewedy Cables Qatar. Net profit margins for the division have fallen from 7.8% to 5.5% mainly due to fall in net profit margins at both Senyar Industries and Aamal Readymix, the spokesman said.The increase in revenue for the trading and distribution division has been driven by particularly strong performances from Aamal Trading and Ebn Sina Medical. Aamal Trading continued to win several tenders with the Qatari government, semi-government and private businesses.Net profit margins across the whole division declined from 13.7% to 11.2%, principally due to a decline in net profit margins at Aamal Medical (due to timings of sales) and at Ebn Sina Medical (due to currency fluctuations), the spokesman said.Regarding the property segment, occupancy at City Center Doha, which makes up 75% of this division’s revenues, has continued to remain high at 97%, with 3% strategically held back to allow for the active management of the centre.Net profit margins have risen from 74.0% to 78.9% due to both an increase in lease rentals and the contribution from the up market Markhiya residential complex.Revenues from managed services rose due to the commencement of operations of ECCO Gulf. Net margins have fallen to 21.5% from 24.8% due primarily to Aamal Services.Total assets were valued at QR7.18bn, comprising current assets of QR1.39bn and non-current assets of QR5.79bn.