Zad Holding and its subsidiaries witnessed a “strong performance” in 2019, in a challenging and rapidly changing environment, the company announced Wednesday night. 
Zad Holding Company held its ordinary Annual General Meeting (AGM) here on Wednesday. 
Addressing the shareholders Zad Holding chairman Sheikh Nasser bin Mohamed bin Jaboral-Thani, said the company maintained almost a similar performance compared to the year 2018, as it achieved net profit of QR211.15mn in 2019 as against QR213.49mn in 2018.
Earnings per share (EPS) remained at similar level QR0.89 in 2019 as against QR0.90 per share in 2018. 
Further, the company has provided QR 15.22mn for Zakat for 2019.
The ordinary Annual General Meeting (AGM) approved QR0.85 per share as cash dividends for 2019.
As per the AGM resolution the company elected the members of the Board of Directors for the term 2020 – 2023.
Sheikh Nasser added, "We were able to maintain the performance with our clear long term strategy and with the efficient management team despite a sluggish economic conditions. Our continuous drive for sustainable growth and emphasis on prudent risk management has helped us in achieving a consistent performance. 
“We proactively implemented and continue to have a comprehensive internal and external efficiency and cost management initiatives, in order to address the challenges of increased cost on supply chain management (in bound and out bound logistics).”
In the board of directors report presented to the shareholders Zad also reported that in order to continue its growth and to expand its horizon further, it carried out an expansion to its bakery operations and increased the fleet size of logistic business during the year 2019. 
Tarique Mohammad, CEO,Zad Holding stated, “The vision and leadership of our board of directors, along with our business ethics and core values, has played a very important role in further strengthening our relationship with all our stakeholders. Through our customer-centric approach and relentless pursuit for perfection, we are committed to achieving the highest standards of product and service quality, improved customer relationships and adaptation to market dynamics. We will strive for efficiency and profitability across the segments that we operate in”.
As per the AGM resolution the company appointed Morison &KuriachanKuriakose Chartered Accountants as external auditor of the company for 2020.