Qatari Investors Group (QIG) is committed to supporting diversification in investment in 2022, according to its Chairman Abdulla Nasser Al Misnad.
Addressing shareholders at QIG’s annual general meeting held on Tuesday, board member
Dany Chrabieh — on behalf of Chairman Abdulla Nasser Al Misnad — said, diversifying sources of income by investing in many sectors, especially the industrial, logistical and security sectors, has resulted in a number of investments that achieved a balance in the overall revenue in a manner in which each sector of investment supports the other, and even compensates for any potential stagnation.
“The success of this strategy over the past years is what encourages us to continue to be committed and support diversification in investment during 2022 to make more achievements that benefit the company and shareholders and make us play a role in supporting Qatar’s economic vision,” he said.
The group achieved revenues of QR691,667,850 and net profits amounted to QR188,118,661, which resulted in a net profit margin of 27.2 percent during the year 2021. Before deducting interest, taxes, depreciation and amortization, the company made a profit of QR291.2 million. Its operating activities have achieved cash liquidity of QR424 million and total assets amounted to QR4.721 billion as of December 31, 2021.
By taking the company’s track record during the year ending on December 31, 2021 into consideration, Chrabieh said, it can deduced that the basis that helped form the company’s belief during the previous year and the years before, in which the successive Boards of directors succeeded in directing and leading the executive management to maintain the company’s plans for continuity and sustainability in a way that guaranteed the achievement of reasonable profits for the company and the shareholders even during difficult economic periods, which crystallizes the real achievement of the group.
The board of directors also worked closely with members of the executive management to monitor the company’s performance in relation to the corporate governance code of listed companies and its role in adding value and effectiveness to policies and procedures, he said. Accordingly, a governance committee was formed within the company’s administrative system in order to conduct a comprehensive assessment of all the group’s tiers to identify any potential gaps and provide recommendations for developing internal policies, he said, adding the Committee will remain active to ensure that the expected standards are maintained.
“The group’s results have been included in the audited financial statements and the corresponding disclosures. The group seeks to achieve a balance to be able to finance its growth and strategy while maintaining the necessary levels of liquidity. Accordingly, the Board of Directors is recommending a dividend distribution of 10 Dirhams per share.
“The goals of the group during the year 2022 are based on achieving further development to realize customer and investor satisfaction and build our strategic partners trust in us,” he said.