Ezdan Group 2012 Net Profit Up 18.32% to QR 408.7 Million

Doha, February 6 (QNA) - Ezdan Holding Group's audited net profit of QR 408.7 Million for the financial year ended December 31, 2012 is an increase by 18.32% over the figure of QR 345.4 Million achieved in 2011, a Qatar Exchange notification said Wednesday. The QE-listed company's Earnings Per Share amount to QR. 0.15 for 2012 compared to QR. 0.13 in 2011. The Group also announced that it has recommended the distribution of 1.3% cash dividend, at the rate of 13 dirhams per share, subject to General Assembly's approval. In the third quarter of 2012, Ezdan Real Estate Company changed its legal status by converting to a holding company. Established 47 years ago and then known as Thani Bin Abdullah Housing Group, the group became a limited liability company in 1993. In 2006 the Group's real estate investments were transferred to a new entity known as the Iskan Real Estate Company. In the same year, its name was changed to Ezdan Real Estate Company and it became a Qatari shareholding company and was launched for trading on Qatar Exchange in 2008. (QNA)