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FINANCIAL NEWS
Qatar’s Ezdan Holding posts USD143.4m profit in Q1
27 Apr 2015
(MENAFN) Ezdan Holding Group, the Qatari company specialized in real estate, recorded USD143.4 million net profit in the first quarter of the year, marking a 13 percent increase, Gulf Times reported.
The Group attributes the rise in profits to a rapid growth in rentals and income from dividend; income from rentals increased by 20 percent, reaching USD99.63 million.
While income from dividend reached USD50.4 million, marking 14 percent increase. However revenues went down by 69 percent to reach USD2.95 million.
“We reaffirm our confidence in the strategy adopted by the group, which aims to maintain the highest degree of stability and the distribution of risks for a brighter future for the group.” Ezdan Holding chairman said.
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