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FINANCIAL NEWS
Qatar- Barwa’s profit hikes 8.25% in Q1
20 Apr 2010
(MENAFN) The Barwa Group said that it earned $57.6 million net profits in the first quarter of 2010, an 8.25 percent rise over the corresponding period last year.
According to the company’s financials, Barwa’s quarterly revenue jumped to $170 million, up 5.29 percent over the year-earlier period.
The firm’s CEO, Yousif Al-Khater, said that Barwa’s earnings per share (EPS) in the quarter were $0.22 , compared to $0.20 for the same period in 2009. The company’s total assets grew to $11.5 billion versus $6.6 billion a year earlier.
The first quarter of 2010 saw an increase in the value of projects under construction, which amounted to $357 million. Al-Khater said that this highlights the company’s commitment to implement its projects, contributing to Qatar’s construction sector and economic development.
It is worth noting that Barwa Group is one of Qatar’s leading investment and real estate companies.
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