The Annual General Meeting of Qotb Petrochemical Sepehr Lavan Company was held for the fiscal year ending 31 Mordad 1404, chaired by Ali Lotfi and attended by shareholders and managers.
According to the Public Relations and Brand Development of Petrofarhang Holding, the CEO of Qotb Petrochemical Sepehr Lavan Company said at the meeting: The company had a successful and different year with a 39% growth in profitability, the resumption of the executive operations of the “Sepehr Hotel” after a seven-year hiatus, and obtaining in-principle approval to issue 200 billion Tomans of interest bonds.
Khalil Sheikhiani added: Qotb Company was able to achieve a 39% growth in net profit at the end of the fiscal year 1404 by carefully implementing the announced policies and an approach based on productivity. In this fiscal year, with new planning and support from Petrofarhang Holding, the completion of the Sepehr Hotel project resumed after a seven-year hiatus, and 39 percent of the physical progress was achieved.
Sheikhiani also announced the receipt of the principle approval of the Fiqh Committee of the Stock Exchange Organization for the issuance of bonds worth 200 billion Tomans and stated: This measure is being implemented for the first time in the country and is an important step towards the development and diversification of new Islamic financial instruments in the industry and the creation of new financing models; with this method, one of the company’s biggest risks, which was the lack of financing, was eliminated and the conditions were made possible for the project to continue.
The company’s CEO continued: By implementing the plans announced by the Holding, the market development strategy, and the creation of new partnerships, the company was able to expand the scope of its services to companies outside the Petrofarhang complex; an action that led to a significant increase in operating income and the expansion of the company’s market share.
He concluded by saying: In order to improve the management system and improve the quality of services, Qotb Petrochemical Sepehr Lavan Company has succeeded in receiving international standard certificates for food safety management system, quality management system, customer satisfaction management, and health, safety, and environmental management system. At the end of this meeting, the financial statements and the report of the Board of Directors were approved by the assembly, and Iran Newspaper was designated as the official newspaper of Qotb Petrochemical Sepehr Lavan Company.
