Mega projects lift Ezdan profit to QR1.07bn

Driven by several huge projects launched last year, Ezdan Holding posted a full-year net profit of QR1.07bn in 2013, up nearly 290% on 2012.Net profit stood at QR275mn in 2012.Earnings per share (EPS) stood at Dh40 in 2013 compared with Dh10 in 2012, the company said in statement in Doha yesterday.Ezdan said the results clearly reflected the “success achieved” by the group at all levels. The group’s performance was lifted by its strategy to diversify investments and maintain professionalism.Ezdan Holding chairman Sheikh Dr Khalid bin Thani al-Thani expressed satisfaction at the company’s performance and congratulated shareholders on the results.“Ezdan Holding’s performance has been extraordinary in all the four quarters of 2013. The year witnessed the launch of several new mega projects, which contributed to the betterment of the group’s financial results. “These achievements will bring financial gains to shareholders and help improve the company’s socio-economic status. We are confident we will be able to see an upswing in our profits in 2014 as well,” Sheikh Dr Khalid said. He said Ezdan Holding would keep implementing its strategy to expand the scope of operations of its sister companies to achieve greater diversity in investments. At the same time, the group is staying focused on improving its profits.Sheikh Dr Khalid said the company’s strategic vision was to focus on investments in sectors other than real estate.“This will contribute to achieving greater benefits for our shareholders as help us participate effectively in realising the Qatar National Vision 2030, which is led by HH the Emir Sheikh Tamim bin Hamad al-Thani,” Sheikh Dr Khalid said.Ezdan Holding Group CEO Ali Mohamed al-Obaidli said the “extraordinary performance” of the company in 2013 was driven by the launch of several large-scale projects, which had a “great impact” on the Qatari market. “We look forward to 2014 with a great deal of optimism and determination. We also hope that the implementation of our new projects this year will help our group make history,” al-Obaidli said.He also said the group has “become a model in the industry” thanks to its strategic vision and hard work of all employees.