(MENAFN- Gulf Times) Driven by "diversified investments and growing development opportunities" in Qatar, Ezdan Holding Group has posted a net profit exceeding QR1.36bn last year, up 27% on 2013.
Ezdan board of directors at their meeting yesterday recommended the distribution of 4% cash dividend on the nominal share value for 2014, which works out to Dh40 a share.
Earnings per share (EPS) reached Dh51 in 2014 compared with Dh40 in the same period last year.
Ezdan Holding Group chairman Sheikh Dr Khalid bin Thani bin Abdullah al-Thani said the growth in profit followed a company strategy diversifying investments.
"Actually, we have started to implement our vision through thoughtful operations and acquisitions of several reputable Qatari companies because these are considered promising investment opportunities. These have reflected positively on the group's profit" he said.
Besides investing in Qatar's stock market, Sheikh Dr Khalid said a number of mega real estate projects have been launched, which effectively contributed to higher profits.
By raising productivity and effectively managing resources, Ezdan was able to generate higher operating income also.
Sheikh Dr Khalid said Ezdan had become one of the largest companies not only in Qatar, but the entire Middle East.
He said Ezdan was totally committed to Qatar and in realising the country's broader Qatar National Vision 2030.
Ezdan Holding Group CEO Ali al-Obaidli said, "By disclosing record financial results, Ezdan Holding Group has been able to successfully meet its promises to shareholders. We constitute a distinct role model in the business world, based on a clear and strategic vision with realistic goals and a successful leadership that is well aware of all the variables, in addition to its ability to gauge the available investment opportunities."
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