Woqod has made a net profit of QR1.15bn in 2011, up 7.5% on the previous year. The company’s total assets reached QR6.95bn last year, a rise of 13% on 2010 while total equity recorded a growth rate of 19.7 % to reach QR4.81bn in 2011, Woqod vice-chairman and managing director Mohamed Turki al-Sobai said yesterday.Despite the increase in capital base through issuing 20% bonus shares in 2010, the earning per share (EPS) grew by 7.5 % to reach QR27.77 per share compared with QR25.83 for the same period of 2010, he said.He said based on the achieved results for 2011 the company’s board of directors has recommended distribution of 100% cash dividend (QR10 per share), which totals QR415.8mn in addition to 25 % bonus shares, which translates into 2.5 shares per 10 outstanding shares.Woqod board of directors meeting was presided over by company chairman HE Abdullah bin Hamad al-Attiyah, who is also the chairman of the Administrative Control and Transparency Authority.Al-Sobai said Woqod was currently engaged in some 20 key projects in Qatar. They include setting up new petrol stations, vehicle inspection centres, Sidra stores, Woqod Tower (Dafna), product supply pipelines, new deals for supply of lubricants and expansion of LPG distribution network.Al-Sobai said five new petrol stations are fast nearing completion and will be opened soon. They are located at Seilea, Roda Al Hamam, Bu Fasila, Lekhdeira and Muaither.Six more petrol stations are currently under construction and expected to be commissioned in the second half of this year. They are coming up at Abu Samra, Um Thughaib, Mesaieed, Mesaieed (only for trucks), Al Ruhaia and The Pearl.The expansion of seven petrol stations is in various stages, al-Sobai said. These are at Hilal, Dukhan, Muaither, North of University (Wadi Al-Banat), Industrial Area, Mesameer East and Daayen.Last year, Woqod commissioned four petrol stations at Shehanyeh, North of University (Wadi Al-Banat), Daayen and Mkenis.Two Sidra centres for providing retail services are being set up at Katara Cultural Village and Qatar Foundation. These will be completed this year.Al-Sobai said Woqod Tower, which will be the company’s headquarters at Dafna, is almost completed and being furbished. Woqod Tower will be commissioned during the second quarter of 2012.Woqod’s product supply pipeline project is currently executed by Qatar Petroleum. The first phase that includes the laying of an 18-inch pipeline to carry all types of petroleum products from Mesaieed Refinery to Doha Depot has been completed.The second phase, which intends to supply the New Doha International Airport with jet fuel will be completed and commissioned before NDIA opening.He said Woqod’s brand of lubricants have been widely accepted by local and regional markets.Contracts for distribution have been signed in Iraq, the UAE, Kuwait and Jordan. Other agreements are expected to be signed with local and foreign agents.Al-Sobai said Woqod’s new LPG cylinders – Shafaf are gaining in popularity. The network for selling Shafaf cylinders is being expanded.The company is also in the process of distributing natural gas to customers in the Industrial Area (phase 1) and will take it to other places later.