Mekdam Holding net profit up 21% to QR28.6 mn in 2021

Mekdam Holding Group achieved a net profit of QR28.6 million in 2021, registering a 21.11 percent growth rate over QR23.6 million in 2020.
The board of directors has decided to recommend to the general assembly the distribution of dividends to shareholders at the rate of 75 percent of the company’s capital, so that cash dividends are distributed to shareholders at 35 percent of the company’s capital, and free shares are distributed to shareholders at a rate of 40 percent.
Mekdam’s revenue achieved a growth rate of 94.3 percent. The easing of coronavirus restrictions has accelerated the pace of business implementation and recovery from the previous decline in project execution and profitability.
Meanwhile the Mekdam Holding Group announced that the company has opened nominations for board membership
“With reference to the amendment of Article No. 28 of the Company’s Articles of Association so that the number of members of the Board of Directors is eight instead of seven, the Board of Directors of Mekdam Holding Group announces the opening of the nomination for membership of the Board of Directors for one member only for the period from 2022 to 2025,” the company said in a statement posted on the website of Qatar Stock Exchanage.
“Applications will be received from 8 am on Saturday 26/02/2022 until 3:30 pm on Thursday 10/03/2022,” it said.
On the other hand, National Leasing Holding reported a net loss of QR14,892 million in comparison to a net profit of QR12,856 million for the same period of the previous year.
The loss per share amounted to QR 0.030 as of December 31, 2021, versus Earnings per share (EPS) of QR 0.026 for the same period in 2021.
The board of directors has recommended no dividends for the financial year ended December 21, 2021. The recommendation will be submitted for approval at the Annual General Assembly meeting.