Winners of Qatar Today Business Excellence Awards honoured

Doha: The Third edition of the Qatar Today Business Excellence Awards (QTBEA) brought together Qatar’s top businessmen and dignitaries to celebrate the resilience of the country’s economy and to honour those companies who have thrived in this difficult economic climate. 

Masraf Al Rayan clinched the award for the top-performing company listed on the Qatar Stock Exchange for its performance in 2017 in providing unbeatable value to its shareholders. 

According to Ezdhar Ibrahim, Managing Editor of Oryx Publishing and Advertising, “It has become more important than ever to celebrate the success of companies that have proved their mettle in the current economic climate. 

These top companies serve as an inspiration for Qatar’s business community. In the coming years, we expect more and more private enterprises to enter the Qatar Stock Exchange in order to have access to more liquidity and we hope to continue this important work. We are excited about QTBEA’s legacy.”

Saumya Krishna, Director, Financial Advisory Services at Deloitte in Qatar, commented: “The ranking methodology adopted by Qatar Today is broadly aligned with the global best practices such that the financial performance of all the companies listed on the QSE are observed for all of the selected financial ratios, over the last three years (2015 to 2017), and accordingly ranks have been assigned (1 being the highest rank, and 45 being the lowest rank).”

Akash Awasthi, a Manager in the Valuations and Modeling Services practice at Deloitte, explained that “Qatar Today has developed a weighted average matrix to arrive at the final (weighted) rankings. 

Details of financial ratios used and adopted weights are: Share price growth (15%), dividend yield (20%), liquidity (15%), return on equity (15%), revenue growth (10%), Cash from Operations/Net Profit (15%) and net margin (10%). Liquidity has been derived by having reference to annual number of transactions and volume traded compared with shares outstanding.”

Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani, Chairman of Gulf Wear housing Company (GWC) the main sponsor of the Qatar Today Top 10 said: “The company, in seeking to provide for the business sector’s needs, has aimed to show what Qatar, and Qataris are capable of. 

Ranjeev Menon GWC Group CEO, said, “Our purpose-driven values of innovation and performance continue to propel us forward in 2018, maintaining and developing our position as the preferred logistics provider in the State of Qatar, and thereby ensuring the best possible returns for our shareholders.”

Hussain Mohammad Al Abdulla on behalf of the CEO of Qatar Stock Exchange said: “We are ever mindful of the important role we all play in the economy of Qatar, providing information on our leading companies and giving investors the opportunity to benefit from their continued growth, and that’s why QSE supports all initiatives that encourage the listed companies to raise the level of their performance and transparency in order to help investors make educated investment decisions.”  

Qatar Today Top 10 performing companies on the Qatar Stock Exchange in 2017 include Masraf Al Rayan, Barwa Real Estate, Widam Food Company, Qatar International Islamic Bank, Doha Bank, Qatar Islamic Insurance Co, Al Meera Consumer Goods, Medicare Group    Healthcare, United Development Company and Qatar Fuel (WOQOD).

In Special Awards category, Shopping Mall of the Year went to Tawar Mall, Automotive of the Year to Toyota and Marketing Agency of the Year to Oravi International.

Ghazala Mohamed, Events Manager at Oryx Publishing and Advertising, said: “It was a successful event. 

The response was amazing and as all top companies’ heads and representatives were present under one roof. We are happy to honour the best performers for their contributions towards making Qatar stronger, prosperous and bringing Qatar more closer to Qatar National Vision 2030”.