Backed by prudent investment strategies, Ezdan Holding Group posted a half yearly net profit of QR927mn, up 8% on the same period last year.
In the second quarter, the company earned a net profit of QR340.6mn compared with QR335.7mn during Q2 last year.
Earnings per share (EPS) have gone up to QR0.35 in H1 as opposed to QR0.32 during the same period in 2015.
On Ezdan H1 financial statement, chairman Sheikh Dr Khalid bin Thani bin Abdullah al-Thani said,
“We are witnessing today a new milestone with regard to the Group’s successes, demonstrating once again the effectiveness of our vision, which we have long stressed on 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 we decided to realise our vision to diversify our investments to achieve growth, we have had several mechanisms and alternative plans that support us to maintain our journey of accomplishments.”
Sheikh Dr Khalid said the group was “highly successful” at the international level by concluding its inaugural $500mn sukuk in a “record” time, witnessing more than 167 % over subscription, and attracting some 71 investors from different prominent financial institutions. The sukuk was part of an integrated plan to issue Islamic bonds worth $2bn or equivalent in other currencies. 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. He explained that among the “most important factors” that have had a “positive impact” on the growth of Ezdan Holding Group was the operating income, which recorded significant rise recently. This is 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 Qatar in a number of the “most important” vibrant sectors of the national economy.
Sheikh Dr Khalid said the Ezdan Group is taking “concrete steps” towards investing beyond Qatar’s borders, as it is currently considering a number of investment opportunities in different continents, especially in markets with “promising and favourable” economic conditions.
Ezdan Holding Group CEO Ali Mohamed al-Obaidli noted that the growth witnessed in the Group’s profit was a reflection of its approach in the recent years and, which was based on diversification of investments in addition to raising productivity and operational efficiency in its projects.
Ezdan is keen on modernisation and the continuous development of various facilities and services provided by its subsidiaries, something which have contributed to attracting a good turnout and increasing demand.
He said the company’s leadership followed a “modern and systematic approach” in relation to managing its investments.
“Such approach is considered flexible, transparent and based on a continuous search for beneficial investment opportunities that will respond effectively to market fluctuations and achieve profits to the shareholders as well as avoiding risks the world economy might encounter,” he said.
Al-Obaidli also mentioned about the Group and two of its subsidiaries (Ezdan Real Estate and Ezdan Mall) receiving the ‘ISO 9001: 2008’ quality certification, which he said would contribute to further developing the quality of operational processes and upgrading the various products and services offered by it.
Sheikh Dr Khalid: New milestone.Right: Al-Obaidli: Modern approach.
