Ezdan Holding's Profit Rises 9% to QR 1.81 Billion

March 1, 2017

Ezdan Holding net profit amounted to QR 1,812,456 thousands compared to QR1,661,853 for the year ended 31.12.2015. EPS amounted to QR 0.68 compared to QR 0.63 for the year ended 31.12.2015. The board also recommended the distributions of QR 0.50 per share.

The Group's Comment

Ezdan's operational income increased by 37.6% to QR2.17 billion in 2016, including 1.6 billion as rental revenues and QR756 million net sale of assets available for sale.  Net operational expenses increased by 25% to QR 370.6 million. As result, the operational income increased by 35.6% to QR1.6 billion.  Adding profit earned from associate companies and from joint ventures; deducting expenses worth QR303.3 million as public and administrative expenses, QR623.3 million as financing cost, then net profit attributable to the shareholders rises by 9.1% to QR1812.5 million.  The company also incurred losses as result of negative change in the value of assets available for sale worth QR 276 million, which reduced the comprehensive income to QR 1536.5 million.