Ezdan achieved QR586mn net profit in Q1 2016
Sheikh Dr. Khalid bin Thani: We seek to enhance our operations in a variety of sectors to attain better profitability for our shareholders
Ali Alobaidli: Our agenda portrays myriad quality projects and we study overseas expansion this year
Ezdan Holding Group Earnings per share (EPS) recorded a remarkable increase in the three-month period of this year, reaching QR0.22 versus QR0.20 in the same period of 2015.
On the financial statements, Chairman of Ezdan Holding Group HE Sheikh Dr Khalid bin Thani bin Abdullah Al Thani noted that these profits, the Group has realized at the beginning of the new year, are an indication that we are on the right path towards reaching our target success. Last year, we succeeded to set the growth pace of our financial results, which prompted us to enhance our strategy of investment diversification and to boost our operations in a variety of areas to achieve the best profitability for our shareholders. We were able to benefit from diversified investment climate pursued by the state in line with its wise leadership’s vision, aiming at establishing a strong of different resources on vital sectors. Sheikh Khalid added that the Group has decided this year to expand its funding sources in order to enter the international markets through the issuance of $2bn Sukuk after the ratification of its General Assembly and careful consideration and study as well as participation in international conferences to learn about profitability of investment in this sector.
Upright financial performance indicators
For his part, Ezdan Holding Group CEO Mr. Ali Mohammed Al Obaidli said:” the financial results we have achieved in this fiscal quarter are very promising and reflect the success of the our development plan, being implemented during the last period and included a number of our facilities, the fact that had positive impact on our operating revenues and net profits throughout this period. We were able to achieve QR741mn operating income during the first fiscal quarter. “
Alobaidli pointed out: "this year, we are studying opportunities for the Group’s overseas expansion after we have succeeded to acquire leading position locally and regionally, in addition to the several awards we have received for our investment excellence. We became the strongest realty company in Qatar and the second major one in the region. These achievement prompted us to continue this performance and success as well as explore other distinctions in a variety of sectors we have entered in recent years. We excelled in shopping centers investment, for example, and we are keen to reveal other projects that we will soon open this year. "
It is worth mentioning that Ezdan Holding Group plays a vibrant role in the support and care for the community, HE Sheikh Thani bin Abdullah Al Thani initiative - may God protect him – has always been a permanent philanthropic support to maintain sustainable source of humanitarian and charitable works not only in Qatar, but also beyond to all vulnerable people in the world. HE Sheikh Thani bin Abdullah Al Thani endowment amounts to up to 22.8% of the Group's total shares, equivalent to 2.65 billion shares.