Ezdan Holding Group has disclosed its semiannual statement, in which its profits continue to rise driven by the tremendous development in the operational plans and thanks to the wise investment strategies in managing the group resources, taking into account the various challenges faced by the regional and global markets.
According to the statement, Ezdan Holding Group’s net profit for the period ended June 30 of this year went up 8 percent to QR927 million, compared to QR858 million during the same period last year 2015. The earning per share (EPS) remarkably went up reaching QR0.35 compared to QR0.32 during the same period last year 2015.
The Financial statement reported that the Group was able to achieve a net profit of QR340.6 million during Q2 this year compared to QR335.7 million during the same period last year.
Commenting on the H1 financial statements, the Group Chairman His Excellency Sheikh Dr Khalid bin Thani bin Abdullah Al Thani said:” We are witnessing today a new milestone in the successes of the group, demonstrating once again the effectiveness of our vision, which we have long stressed on in several occasions. We are determined to move forward and continue to grow despite the challenges that we face in the local, regional and global economy. Since the first moment we decided to apply our vision to diversify our investments to achieve growth, we have had several mechanisms and alternative plans that will support us to maintain our journey of accomplishments. "
H.E. added that the Group has proved highly successful at the international level by concluding its inaugural $500 mn Sukuk operation in record time, attracting more than 167 % oversubscription, and with 71 investors participating from different prominent financial institutions. The Sukuk issues was part of an integrated plan to issue Islamic bonds (Sukuk) worth $2 billion or the equivalent in other currencies, indicating that Ezdan Holding Group is a trustworthy and reliable entity in the world of finance, as it is considered the first company to conclude a deal of such size in a very short time.
Dr. Khalid Al Thani explained that among the most important factors that have a positive impact on the growth of Ezdan Holding Group lies the operating income, which have recorded significant rise recently in addition to achieving efficient productivity in the Group’s projects and investments. He pointed out that the operational plan for this year includes the inauguration of a series of major projects in the State in a number of the most important stimulating sectors of the national economy.
Ezdan Chairman confirmed that the Group is taking concrete steps toward investing beyond the state borders, as it is currently considering a number of investment opportunities in different continents, especially in markets with promising and favorable economic conditions.
Three international certifications
In this regard, Ezdan Holding Group CEO Mr. Ali Mohammed Al-Obaidli noted that the growth witnessed in the Group's profit comes as a reflection of the approach the Group has adopted in the recent years and which is based on a fundamental pillars lead by the diversification of investments in addition to raising productivity and operational efficiency in the Group projects. Ezdan was keen to modernization and continuous development of various facilities and services provided by its subsidiaries, the fact that contributed to attracting large turnout and increasing demand.
He added that the leadership of the Group follows a modern and systematic approach in managing its investments. Such approach is considered flexible, transparent and based on continuous search for advantageous investment opportunities to be able to respond effectively to market fluctuations and achieving all-out profits to the shareholders as well as avoiding risks the world economies might encounter. Al-Obaidli hailed the honoring of the Group and two of its subsidiaries (Ezdan Real Estate and Ezdan Mall) who received the "ISO 9001: 2008" Quality certification, the fact that will ultimately contribute to further develop the quality of operational processes and upgrade the various products and services offered by the Group, led by the real estate sector.