Mr. Ziad Al-Jaidah, Managing Director of Qatar Electronic Systems Company “Techno Q,” said that the company is currently carrying out work worth 600 million Qatari riyals and that it has disposed of all of the company’s debt.
Al-Jaida added in an interview with CNBC Arabia that in the first quarter of 2024, the company recorded a growth in net profit of 30% on an annual basis, and that it is committed to distributing dividends to shareholders for the year 2024.
The Managing Director of Techno Q indicated that the goal of transforming into a public company is to improve the investor base, which in turn ensures greater continuity.
Al-Jaidah also pointed out that the company achieved financial returns worth 296 million riyals last year, 2023, and net profits reached 19.7 million riyals, with a growth rate of 30%.
Regarding whether the company suffers from any debts, he said: “We were able to get rid of all the debts incurred by the company, as we are carrying out work worth 600 million riyals, and we have a cash reserve of 60 million riyals.”
The Managing Director of Techno Q explained during the meeting that the company is committed to distributing profits to shareholders for the current year 2024.
Regarding choosing this time to list the company on the stock exchange, Jaidah said, “The idea of transforming into a joint stock company is a new experience for us, and we aim to transform into the main market within two years.”
Regarding the future vision, he stressed that the State of Qatar is a pioneer in adopting new technology, and is one of the first countries in the world to implement the 5G system. The company is honored to contribute to many government digital transformation projects. It is also looking forward to developing its business into digital devices to keep pace with the country’s needs in this vital sector.
“Techno Q” is scheduled to be listed on the second market (the emerging companies market), starting tomorrow, Wednesday, June 26, after completing all technical, regulatory and administrative procedures and obtaining the approval of the Qatar Financial Markets Authority for listing, and the approval of the Board of Directors of the Qatar Stock Exchange to accept The company’s shares were traded, bringing the total number of companies that have listed their shares on the emerging companies market to four companies.
It is worth noting that the Qatari Electronic Systems Company – Techno Q (Q.P.S.C.) was established in 1996 and operates in the audio-visual devices and systems sector and lighting systems through its own operations and in the security systems sector through its wholly owned company, Techno Q Systems Company. the wish.
