Al Qudra Holding records AED 264 Million profit for 2016
Al Qudra Holding P.J.S.C. held its annual general meeting on 26th April 2017, and presented its 2016 full activity report for the financial year ending December 31, 2016. The company achieved total revenue of approximately AED 1 billion and maintained a high profit margin of 39%, increasing the company’s profit to AED 264 million in 2016.
The shareholders also agreed on the acquisition of Al Rayan Investment Company P.J.S.C. through a swap of shares transaction worth more than AED1 billion, by agreeing to increase the paid-up capital of Al Qudra Holding through the issuance of 210.4 million new shares. Following the acquisition, Al Rayan Investment Company P.J.S.C. will become a subsidiary of Al Qudra Holding P.J.S.C. and its shareholders will be added to Al Qudra’s shareholders’ register