The Qatari Investors Group (a Qatari public shareholding company) announced the conclusion of an interest rate swap agreement, which contributed significantly to hedging the risks of fluctuation in interest rates.
In a statement, Joseph Abdo, CEO of Qatari Investors Group, confirmed that the current rise in interest rates will not have a negative impact on the company due to the existence of this agreement. On the contrary, the company has benefited from this rise positively by increasing returns on deposits. cash in banks.
He pointed out that the group’s efforts to enhance profitability for the year 2023 tend to focus on diversifying sources of income resulting from non-industrial activities, mainly represented in logistical services, transportation services, freight and navigation services, and security services.
He added that the group is studying and evaluating many investment opportunities at the level of all sectors in order to enhance the return on shareholders.
He pointed out that among the factors that supported the company’s profitability in 2022 was the increase in revenues in general by about 8 percent compared to last year, and the decrease in operating costs as a result of developing and improving operational processes in the various sectors of the group, in addition to creating practical opportunities to rationalize spending and high return on investments. As well as achieving various returns from activities related to the 2022 World Cup, which are directly related to the logistical sectors, security systems, transportation and communications.
The Ordinary General Assembly of the Group approved the distribution of cash dividends of 15 percent of the nominal value of the share, at 15 dirhams per share.
