DOHA: Ezdan Holding Group’s full year net profit rose by 27 percent to QR1.36bn in 2014 compared to the previous year. Ezdan Holding share recorded a remarkable jump during the year, where the earnings per share (EPS) reached QR0.51 against QR0.4 in the previous year.
The Board of Directors, during its meeting held on Tuesday, recommended distributing cash dividends of 4 percent of the profit to shareholders.
Commenting on the financial results, Ezdan Holding Group Chairman Sheikh Dr Khalid bin Thani bin Abdullah Al Thani said the results achieved by the Group are to complement a natural rise of Ezdan Holding Group profits since the Group adopted a strategy based on the diversification of investments. “Actually we started to implement that vision through thoughtful operations and acquisitions of several reputable Qatari companies because they are considered promising investment opportunities, the fact that was reflected positively on the Group’s profit base,” he added .
Dr Khalid also said that in addition to the financial investment the Group pumped into Qatar’s stock market, a number of giant real estate projects have been launched and that effectively contributed to stimulate profit growth. He said the operating income contributed strongly in the announced profits as a result of the Group’s effective management of resources, which played a pivotal role in raising the productivity of the Group’s projects.
Ezdan Holding Group CEO Ali Al Obaidli said: “Ezdan Holding Group was successful to meet its promises to its shareholders. This constitutes a distinct role model in the business world, based on clear and strategic vision with realistic goals and successful leadership that is all the time well aware of all the surrounding variables, in addition to its ability to analyse the available investment opportunities.”
Al Obaidli added that the Group works with a high operational efficiency, saying: “The year 2015 will be witnessing the implementation of different mega projects of the Group, which will certainly foster the strength of Ezdan Holding Group and its ability to continue to step forward with confident and diligence, seeking further success and excellence.”
The Group CEO said Ezdan Holding plans to launch two projects among the largest projects of Group and that will have a great impact on earnings during 2015. The projects are “Ezdan Palace Hotel”, which features a unique location and high scale services. The hotel was established with the help of international companies specialised in hospitality. The hotel boasts of 210 guest rooms and suites, the fact that will be an added value to the market.
In addition to Ezdan Mall al Wakra, which will give the city of Al Wakra vitality as the population in such area is expanding, Ezdan was keen to contribute in establishing infrastructure and superstructure development to serve Al Wakra people. In 2015, Al Wukair area will witness the opening of Ezdan Mall Al Wukair, consisting of 11 commercial buildings, and includes shops, offices, etc. The mall is spread on a total area of more than 53,000 sqm.
The number of endowed stocks for charity of Ezdan Holding Group is 605 million shares with a value amounted to QR10.2bn, according to closing price on February 23.
The fund includes 22.8 percent of the Group’s total shares, of up to 2.65 billion shares, amounted to QR310m. The endowment has been an initiative of the founder of Ezdan Holding Group Sheikh Thani bin Abdullah Al Thani.
