Ezdan posts QR1.7bn profit for 2017

25/01/2018 06:16 AST

Ezdan Holding Group has reported a solid QR1.7bn net profit for the year 2017, compared to QR1.8bn posted a year ago. Ezdan Holding Group'sEarnings per Share (EPS) reached QR0.64 versus QR0.68 for the same period last year.

Chaired by Ezdan Holding Group Deputy Chairman Sheikh Abdullah bin Thani bin Abdullah Al Thani,the Board of Directors reviewed the financial results. Commenting on the financial performance of the Group, Sheikh Abdullah bin Thani bin Abdullah Al Thani said: "Ezdan has been able to respond to changes occurs in the investment landscape in Qatar due to the regional conditions caused by the blockade.

Ezdan has proven itself to be successful in mitigating risks and safely manage its financial performance, the fact that gives us more confidence regarding our vision and strategy. We look forward to do better in the coming stages as the Group will be launching all its projects this year." He added that such projects will be fully operational, lauding the support provided by the state leadership in setting an effective investment climate in Qatar.

Ezdan Holding Group CEO Ali Mohammed Al Obaidli said: "The Group's performance over the past year has been flexible, realistic and able to efficiently get out of the crisis. We have been able to translate our vision into steady successful steps and we will devote more effort in 2018 to complete the next phases of our under construction projects. We are committed to improvethe Group's internal environment and explore other investment opportunities based on our diversification strategy, which is a major factor that helps cope and overcome risks and volatility. We will continue to raise our operational efficiency to boostour financial performance. "

Ezdan Holding Group is one of the largest investment entities in Qatar. The group in engaged in various sectors, including real estate, entertainment, hospitality, among other vital sectors. For more than 55 years in Qatar, The Group owns and has been operating a large number of residential units inside and outside Doha, in addition to malls and hotels.

The Peninsula