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Qatar- Islamic Holding Group Announces 2011 Results  Join our daily free Newsletter

MENAFN - Qatar News Agency - 23/01/2012

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(MENAFN - Qatar News Agency) Islamic Holding Group has announced its full year results for the period that ended on December 31, 2011.

The announcement came after meeting of the board of directors held here on 22/ 01/ 2012 under the chairmanship of His Excellency Dr. Sheikh Khalid bin Thani bin Abdullah Al Thani, Chairman of the Board of Directors.

In a press release, issued today the Group said the results showed that the net profit of the Group by the end of December, 2011 was ( 4.6 ) million riyals, compared with (4 ) million riyals by the end of 2010 with a growth rate of ( 16 %).

The total assets of the Group were ( 576.4 ) million riyals, compared with ( 173.5 ) at the end of last year, which shows a growth rate of ( 232 %).
The Board of Directors decided to recommend to the AGM the payment of a cash dividend to shareholders by ( 13.34 %) of the capital of the company's paid-up capital, which amounts to ( 1 ) Riyal per share.

On the other hand, HE Dr. Sheikh Khalid bin Thani bin Abdullah Al Thani, Chairman of the Board said the Group's results for 2011 is just a beginning. The Group is moving in the right direction to strengthen its presence and identify the various activities that it will enter into, which will be good for the company and its shareholders and Qatari economy as a whole.

The group has done feasibility study for undertaking various projects in future in line with the company s interests and goals to contribute to the national economy.

There are many opportunities in Qatari economy, which remains extremely attractive and hence the company will focus on local projects.

But if Islamic Holding Group finds good opportunities abroad, it will pursue these with due diligence and proper risk management. Keeping risk at the lowest possible level is a top priority of the company in the interest of its shareholders.

"Our strategy evolved by the Board of Directors will be implemented step by step. We hope there will be some achievements by the year-end, because the company will have all technical systems and processes in place," he said.
Islamic Holding Group will actively pursue all Shariah-compliant activities. This will be good for the Qatari economy.

HE Dr. Sheikh Khalid bin Thani, thanked the staff working in the Islamic Holding Group for their tireless efforts over the past year and urged them to continue that and place the company in an enviable position.


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