FINANCIAL NEWS

Ezdan net profit down to USD10.1m in Q1

01 May 2011

(MENAFN) Ezdan Real Estate Company stated that its net profits in 2011’s Q1 fell down to USD10.1 million compared to USD19.65 million in last year’s first quarter, reported QNA.

The Qatar-based firm also said that its earnings per share (EPS) for the first quarter dipped to USD0.0027 from USD0.008 year on year.

Ezdan added that its assets saw a six percent climb to USD8.76 billion in 2010, compared to USD8.25 billion recorded in the year before. The firm’s shareholder’s equity stood at USD7.52 billion last year up from USD7.49 in 2009.

It is worth noting that Ezdan Real Estate was established 74 years ago under the name Thani Bin Abdullah Housing Group. In 2006, the Group’s real estate investments were transferred to a new entity known as the Iskan Real Estate Company, and in 2006 it was named Ezdan Real Estate Company.

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