Al Qudra’s net profit hits Dh703m
Investment company Al Qudra Holding has announced net operating profit of Dh703 million for the financial year ending 2007, equivalent to 117 per cent of its Dh600m capital.
The value of the firm’s assets has risen from Dh2,063m at the end of 2006 to Dh3,360m at the end of last year, a 63 per cent rise. Shareholder equity rose over the same period from Dh1,441m to Dh2,299m, an increase of 60 per cent.
“The company has grown exponentially and geographically over the past 12 months,” said Salah Salem bin Omeir Al Shamsi, Chairman and Managing Director of Al Qudra Holding.
“We have taken advantage of investment opportunities in Morocco, Algeria, Mauritania, Egypt, Syria, Senegal, Yemen and Eritrea. Al Qudra has also opened offices in other parts of the world, which are in the process of investing in many large projects. We have many other projects that are still being studied and will be announced soon.
“We have more than 30 subsidiaries working in the real estate, industry, transport and utilities sectors in the UAE and abroad.” The company was established in May 2005 with a capital of Dh550m, which was subsequently increased to Dh600m.
It has focused on contributing to the development of the emirates and has quickly become one of the fastest growing companies in terms of corporate performance as well as market capitalisation.
Al Qudra has interests in education, tourism, industry, healthcare, agriculture, energy, infrastructure development, sports management and the entertainment industry.
The company is a strategic partner for many leading regional companies wishing to invest in the UAE, and Abu Dhabi in particular.
Al Qudra is holding ordinary and extraordinary meetings for shareholders on February 19.
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