Tribune News Network
DOHA
Alijarah Holding Company announced a strong financial performance for the period ending September 30, 2024, with a 15.59 percent increase in net profit, reaching QR13.69 million, compared to QR11.84 million during the same period in 2023.
The company also reported a 13.48 percent growth in revenues, which rose to QR50.65 million, reflecting its positive momentum in various business sectors.
The company’s earnings per share (EPS) climbed to QR0.028, up from QR0.024 in the corresponding period last year. This performance underscores the success of Alijarah Holding’s strategic initiatives aimed at enhancing profitability and shareholder value.
Commenting on the financial results, Alijarah Holding CEO Hamad Hassan Al Jamali expressed satisfaction with the company’s robust performance. He attributed the net profit growth to the company’s strong investment portfolio and stable returns from its subsidiary, Elijah Driving Academy. Al Jamali emphasised the company’s commitment to expanding its investment portfolio, with a particular focus on high-yield Sukuk investments.
"We are pleased with the strong performance achieved by the company this year, as net profit increased by 15.59 percent, driven by the robust performance of the investment portfolio and stable profits from Elijah Driving Academy,” Al Jamali stated.
Alijarah Holding has also made significant strides in expanding its real estate portfolio. The company is developing land it owns within Qatar and has embarked on new property development ventures in Saudi Arabia, where it recently acquired new land for
expansion.
Additionally, the company launched new logistics warehouses in Wadi Aba Saleel, contributing to an increase in the return on assets.
Al Jamali said, "We are working to strengthen our real estate portfolio by developing the land we own and expanding in Saudi Arabia by purchasing new lands for property development.