Al Qudra Holding achieves AED 703 million net profit
Al QUdra Holding, the UAE’s leading investment company, announced a net operating profit of AED 703 million for the financial year ending 2007; an equivalent to 117% of the capital of AED 600 million.
The financial assessment conducted reflected remarkable financial achievements including an increase of total assets from AED 2,063 million end of 2006 to AED 3,360 million end of 2007 marking an increase of 63%. While shareholder equity increased from AED 1,441 million to hit AED 2,299 million or a 60% increase compared with year-end 2006. The share equity also rose by 10.4% from AED1.06 to AED1.17 over the same period.
Eng Salah Salem Bin Omeir Al Shamsi, Chairman and Managing Director of Al Qudra Holding said: "The company has grown geographically over the last 12 months and we have taken advantage of investment opportunities in Morocco, Algeria, Mauritania, Egypt, Syria, Senegal, Yemen, Eritrea, and many other countries."
Al Shamsi added: "Al Qudra Holding has already opened offices in many parts of the world which are in process investing in many large projects. We also have many other projects that still in process being studied and will be announced soon to be added to the achievements record of our subsidiaries that exceeded now the 30 subsidiary working in real estate, industry, transportation and utilities sectors in UAE and abroad.”
It’s worth mentioning that Al Qudra Holding has recently invited its shareholders for its upcoming ordinary & extra-ordinay Assembly General Meeting (AGM) that will be held in Beach Rotana Hotel - Al Thurya Ballroom - on Feb 19th, 2008.