Alijarah Holding Company reports 9-month net profit surges 15.59 percent
Date
10/17/2024 12:44:27 AM
(MENAFN) Alijarah Holding Company has released its financial results for the period ending September 30, 2024, reporting a notable 15.59 percent increase in net profit, which reached QR13.69 million compared to QR11.84 million during the same period in 2023. The company's earnings per share rose to QR0.028, up from QR0.024 last year, while revenues grew by 13.48 percent, totaling QR50.65 million. These positive results highlight Alijarah's strong performance amid a competitive market landscape.
CEO Hamad Hassan Al Jamali expressed satisfaction with the company's achievements, attributing the increase in net profit to the robust performance of its investment portfolio and stable profits generated by Alijarah Driving Academy. He noted that the company is effectively executing its strategy by enhancing its investment portfolio, particularly through the addition of new high-yield Sukuk investments, which are expected to provide significant returns.
In addition to strengthening its investment portfolio, Al Jamali emphasized the company's commitment to expanding its real estate holdings. This includes developing owned land and making strategic acquisitions in Saudi Arabia for property development. The launch of new logistics warehouses in Wadi Aba Saleel has also contributed to improving asset returns and enhancing shareholder interests.
Looking ahead, Al Jamali confirmed that Alijarah Holding Company will continue to seek out investment opportunities to maximize benefits for shareholders and bolster its market position. The company’s proactive approach in expanding its portfolio and exploring new ventures is expected to drive sustained growth and profitability in the future.
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