Ezdan Holding Achieves Net Profits Exceeding QR1.29 Billion End of Q3

Doha, October 30 (QNA) - Ezdan Holding Group has revealed its financial statements achieved by the end of Q3, which shows a net profit exceeding QR 1.29 billion, compared to QR 1.22 billion during the same period last year, an increase of 5.8%. The financial results showed an increase in the Group's Earnings per Share (EPS) of QR 0.49 by the end of Q3 2016, compared to QR 0.46 during the same period in 2015. As for its operating income the Group has logged QR 1.593 mn, versus QR 1.346 Milion by the end of Q3 in 2015. On Ezdan's performance during the previous period, Chairman of Ezdan Holding Group HE Dr. Sheikh Khalid bin Thani bin Abdullah Al-Thani, said: "A good observer of the Group's strides during this period would clearly witness the accurate vision that we seek to realize in every step of the way. A vision that steadily paves the way in the realm of business and finance, and becomes a model of institutional strategies development and investments restructuring for a smooth transition from a private to a public shareholding company listed in the stock markets, which propelled the size of the Group's investments and vision, transforming the group into a holding group with an enormous variety of investments under its umbrella". "The Group has demonstrated its ability to face challenges and overcame many obstacles at the local and international level. Some of these achievements we have planned were the Sukuk issuance, in addition to our success in coping with oil price fluctuations, which had a negative impact on markets in general. However, and despite that, Ezdan Holding Group strongly carries on in its success track, and will continue this journey," he added. Commenting on the Group's performance by the end of Q3 2016, Group CEO Mr. Ali Mohammed Al Obaidli said: "This year has witnessed the realization of strategic goals we have set over the past years. We have made a quantum leap in our operations in various projects, and after achieving excellence and leadership in real estate, we have strengthened Ezdan Holding Groups brand in the tourism and entertainment sector, which is bringing in revenues at an exponential rate". Al Obaidli added that the Group launched the first phase of Ezdan Mall Al Wukair through the opening of the "Grand Hypermarket". Moreover, the Group is currently gearing up towards opening the entire mall so that it provides a distinct services outlet for the adjacent area. In addition to that, Ezdan is working, in collaboration with a number of international specialists in the field of commercial centers fit-outs, on the opening of Ezdan Mall Al Wakrah in the coming period. (QNA)