(MENAFN - The Peninsula) Islamic Holding Group yesterday announced the results for the first quarter that ended on March 31, 2011. The results were announced after the board meeting presided over by Chairman Sheikh Dr Khalid bin Thani Al Than. He said the results showed that the group achieved net profit of QR2.03m, which shows a growth of 157 percent compared with the corresponding period last year.
The earnings per share (EPS) were Dh51 in the first quarter of this year compared with Dh20 for the corresponding period last year. This shows a growth of 155 percent.
The total revenues earned by the Islamic Holding Group were QR4.5m.
Sheikh Dr Khalid said that the results were in line with the strategy of the company to boost its profitability and create the platform for active participation in various sectors of the economy.
The Managing Director Abdulbasit A Al Shaibei said that the company achieved 'very good results' in the first quarter.
He said the company is studying the possibility to establish some new companies for several activities. This will benefit the company in general and its shareholders in particular.
Islamic Holding Group will actively take part in all activities that result in the economic development of Qatar and support the Qatar National Vision (QNV) 2030. The Islamic Holding Group will also support activities that support the community.
This is the commitment of Islamic Holding Group. The company is also committed to maintaining good quality workforce focusing nationals. The company will also recruit and train Qataris following the Qatarisation policy.
Al Shaibei hoped that growth will continue and good results will come out by the year-end. Qatar's economy is very strong and there are various opportunities in the local market, the company could benefit from these.