DOHA: Ezdan Holding Group recorded a net profit of QR858.16m for the first half of 2015 (H1, 15), up 20 percent compared to QR718.1m reported for the same period in 2014.
The earnings per share (EPS) of Ezdan Holding Group marked a significant increase in H1,15 recording QR0.32 compared to QR0.27 in H1, 2014.
Commenting on the Group’s solid first half performance, Chairman Sheikh Dr Khalid bin Thani Abdullah Al Thani said: “The financial statement reflects the fact that Ezdan Holding Group’s investment earnings will continue to rise, despite the ongoing crisis in the global economy.”
“We note that the domestic market is perfectly standing by the strong government support and heavy implementation of major national projects. Despite the fact that Ezdan Holding is part of this market, the Group was able to achieve great successes at the level of its performance in financial market through the remarkable realisation achieved by the Group share resulted in its inclusion in the global indicators.”
Sheikh Dr Khalid added that the Group’s H1,15 results is a reflection of its vision translating into action. As part of the vision, the Group diversified its investment portfolio three years ago. The Group was able to pump investments in various sectors across emerging companies after a thorough study. The Group also developed an integrated plan to revitalise and upgrade operational efficiency of many of its projects, which helped achieve quick positive returns.
Sheikh Dr Khalid expressed his pleasure on the success achieved in an year when the Group is celebrating its 55 years of a long journey of achievements. “Such journey will not halt as long as the Group has a vision that goes hand in hand with a strategy that seeks maintain social responsibility,” he said.
Ezdan Holding Group CEO Ali Al Obaidli said: “The strong results reflect the upsurge in the Group’s operating. The Group launched massive development process including several residential compounds over the past one year. The launch of recreational facilities and the renovation of rooms have also helped improve the operating profit of the Group”.
Al Obaidli pointed out that the Group is currently working on the launch of a number of mega projects which would further augment the Group’s cashflow.
This include the opening of Ezdan Mall Wukair in October. Such project is considered the first of its kind in the cities of Al Wakra and Wukair. In addition, Ezdan Mall Al Wakra, which is scheduled to open by next December, will provide family entertainment and services outlet of the surrounding area.
This comes in conjunction with the Group’s intention to launch Ezdan Palace Hotel early next year on Al Shamal Road, which will provide 210 rooms and suites, keeping pace with the great development reached by the Qatari tourism market. The hotel features stylish designs with authentic oriental character.
It should be noted that the number of endowed stocks for charity of Ezdan Holding Group is 605 million shares, means 22.8 percent of the Group’s total shares. The endowment has been an initiative of Sheikh Thani bin Abdullah Al Thani, the founder of Ezdan Holding Group.
