Ezdan Holding Group Posts QR 1.81 Billion Net Profit in 2016

Doha, – Ezdan Holding Group has disclosed its annual financial results, posting a net profits that exceeded QR 1.81 billion by the end of the fiscal year 2016, compared to QR 1.66 billion in 2015, an increase of 9 percent, the company said in a press release issued Wednesday.

While the group’s earnings per share (EPS) achieved strong growth over the past year yielding QR 0.68, compared to QR 0.63 during 2015.

The board of directors convened under the group’s chairman, HE Sheikh Dr. Khalid bin Thani bin Abdullah Al-Thani, to discuss and assess the group’s annual performance for the year 2016 and recommended distributing cash dividends of QR 0.5 per share, at 5 percent of the nominal value of the group’s share.

“Our success is the result of our commitment to a realistic vision, defined goals and solid strategy, which allows the achievement of objectives as planned, while making use of all capabilities available,” HE Sheikh Dr. Khalid bin Thani bin Abdullah Al-Thani said of the financial performance.

“These are the standards that govern our decisions at Ezdan Holding Group. We believe that a successful investment is the one capable to respond to the market’s needs, and a successful management is the one that possesses sufficient flexibility to overcome the challenges faced by economy.

“We have proven during 2016 that Ezdan Holding Group is capable to achieve greater success, which manifested in the volume of demand for its inaugural Sukuk estimated at $500 million, achieving 167 percent oversubscription; in addition to other successful funding sources that are proven compatible with our values,” HE Sheikh Dr. Khalid bin Thani bin Abdullah Al-Thani added.

Despite the great challenges posed by the global economic slowdown and its impact on the local market, Sheikh Dr. Khalid bin Thani said, the group was even keen to pursuit its objectives, and fulfill its promises. It went on to soft launch a number of projects that will open during the current year and operate at full capacity. (QNA)

Source: Qatar News Agency