Al Qudra Holding announce third quarter net profits
Al Qudra Holding announced today third quarter record profits of AED598 million on their second year of operations. With this increment, Al Qudra Holding’s profits marks 100% return on investment for the initial capital worth AED600 million. Furthermore, the company’s total assets increased from AED1.284 million at the end of last year to about AED2.076 million in September of this year, while the return on assets increased from 23% from December 2005 to a mere 35.5% by September 2006. On the other hand, the net shareholder value increased from AED846 million to AED1.406 million in September of this year.
“We are thrilled to declare our third quarter financial results that have exceeded our expectations,” said Eng. Salah Salem Bin Omeir Al Shamsi, Chairman and Managing Director, Al Qudra Holding. “We would like to set the standards for the private sector and reflect its important role in the development of the economy. This is just one aspect of reflecting the success of the ambitious plans we are working on at Al Qudra Holding. The business opportunities are unlimited, waiting to be exploited and this has been made possible by the political stability of the country,” said Al Shamsi.
About Al Qudra Holding
Al Qudra Holding was established in May 2005 with a capital of AED 600 Million. Today, the company has a large group of specialized subsidiaries that operate under its umbrella in important sectors of the country’s education; tourism; industry; energy; infrastructure development; sports management and the entertainment industry.
The company is considered the ideal strategic partner for many leading regional companies looking to invest in the United Arab Emirates, and Abu Dhabi in particular. This was achieved through the trust, expertise and competencies that the company has acquired through the foundation of projects, investment strategies and companies that cover a wide range of sectors of development, thus attracting strategic and specialized partners in all fields.