Mekdam Holding Group achieved a net profit of QR28.6mn in 2021, registering a 21.1% growth rate over QR23.6mn in 2020 mainly attributable to the growth in business volume.
Earnings per share (EPS) amounted to QR0.571 for 2021 compared to QR0.472 EPS for 2020, it was announced by the group’s chairman, Sheikh Mohamed bin Nawaf bin Nasser bin Khalid al-Thani during a board of directors meeting recently.
Sheikh Mohamed said Mekdam's revenue reached QR284.3mn in 2021, compared to QR146.3mn in the previous year with a growth rate of 94.3%.
The easing of coronavirus restrictions has accelerated the pace of business implementation and recovery from the previous decline in the project execution and profitability.
Mekdam’s financial position grew by 95.0% year-on-year (y-o-y) by the end of December 31, 2021 because of the steady expansion of the group's business volume. In 2021, Mekdam maintained its liquidity levels of 77.4% of its assets, which are current assets. The current ratio (current assets to current liabilities) is 1.5 times. The group also maintained low levels of indebtedness, with net indebtedness (bank loans minus cash and cash balances) amounting to QR12.1mn.
The board of directors has decided to recommend to the general assembly the distribution of dividends to shareholders at the rate of 75% of the company's capital, so that cash dividends are distributed to shareholders at 35% of the company's capital, and free shares are distributed to shareholders at a rate of 40%.
The board also reviewed the results of the listing of Mekdam on the venture market of the Qatar Stock Exchange, which was welcomed by the investors. This reflected an increase in the market value of the shares from the initial price, and the group was able to increase its shareholder base to about 270 shareholders, about 82% of whom are Qataris. The group aims to increase its shareholder base to about 500 shareholders and float 25% of the capital.
Earnings per share (EPS) amounted to QR0.571 for 2021 compared to QR0.472 EPS for 2020, it was announced by the group’s chairman, Sheikh Mohamed bin Nawaf bin Nasser bin Khalid al-Thani during a board of directors meeting recently.
Sheikh Mohamed said Mekdam's revenue reached QR284.3mn in 2021, compared to QR146.3mn in the previous year with a growth rate of 94.3%.
The easing of coronavirus restrictions has accelerated the pace of business implementation and recovery from the previous decline in the project execution and profitability.
Mekdam’s financial position grew by 95.0% year-on-year (y-o-y) by the end of December 31, 2021 because of the steady expansion of the group's business volume. In 2021, Mekdam maintained its liquidity levels of 77.4% of its assets, which are current assets. The current ratio (current assets to current liabilities) is 1.5 times. The group also maintained low levels of indebtedness, with net indebtedness (bank loans minus cash and cash balances) amounting to QR12.1mn.
The board of directors has decided to recommend to the general assembly the distribution of dividends to shareholders at the rate of 75% of the company's capital, so that cash dividends are distributed to shareholders at 35% of the company's capital, and free shares are distributed to shareholders at a rate of 40%.
The board also reviewed the results of the listing of Mekdam on the venture market of the Qatar Stock Exchange, which was welcomed by the investors. This reflected an increase in the market value of the shares from the initial price, and the group was able to increase its shareholder base to about 270 shareholders, about 82% of whom are Qataris. The group aims to increase its shareholder base to about 500 shareholders and float 25% of the capital.