Alijarah Holding net profit up 10%

Alijarah Holding has reported a net profit of QR 106.7 Million for the first half of 2012, an increase by 10% over QR 96.6 Million for the same period last year. The Earning Per Share (EPS) was marginally down to QR 2.61 as of June 30, 2012 compared to QR 2.65 for the corresponding period in 2011. This was despite the 50% increase in the capital following the company's recent Rights Issue. The shareholder's equity was up to QR 1,230 Million an increase of 91% over the figure of QR 643 Million for the same period last year. The total assets amounted to QR 1,928 Million, an increase by 8%. The operating revenue for the first six months amounted to QR 342 Million an increase by 22% over the figure of QR 281 Million for the same period last year. The Chairman and Managing Director of Alijarah Holding Sheikh Falah bin Jassim bin Jabr Al Thani, who announced the half year financial results, said, "These outstanding results once again prove Alijarah Holding is continuing on its path to achieve its objectives of sustained growth in income and assets." The company's excellent performance offers good growth for its shareholders through effective delivery of its products and services that comply with Islamic principles, he added. Acting CEO Hamad Shareef Al Emadi said, "The good results confirm Alijarah's strength and solid foundations laid in its business plans, strategies and its effective implementation through various programmes and projects." Among the highlights for the first of first half of 2012, Alijarah listed the success of its Rights Issue, it participation in the recently held United Nations Conference on Trade and Development (UNCTAD), partnering Qatar's leading businessman award and winning the ISO 14001 and 18001 (OHSAS) certification for its 100% subsidiary Alijarah Property. Hailing the ISO certification, Sheikh Falah said, "This certification heralds a new phase of progress and prosperity for the company and it provides further impetus for it improvement." Explaining the importance of the OHSAS 180001:2007, Al Emadi said, "This is internationally recognised assessment specification for Occupational Health and Safety Management Systems, developed by leading trade bodies, international standards and certification bodies to address a gap where no third-party certifiable international standard exists." He also reiterated Alijarah's commitment to excellence, Islamic Shari'ah principles in all dealings, the policy of Qatarisation, disclosure, transparency, focussed customer services and social responsibilities.