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FINANCIAL NEWS
Qatar’s UDC H1 net profit up to USD95m
25 Jul 2011
(MENAFN) The United Development Company’s (UDC) Chairman, Hussein Al Fardan, said that due to Qatar’s economic development and stability, in this year’s first half, UDC’s net profit reached USD95 million, reported The Peninsula.
Al Fardan added that in the period, earnings per share reached USD0.59, whereas gross profit grew to USD97 million from USD76 million in 2010’s same period.
He also said that the number of residents moving into residential properties in The Pearl-Qatar in the first half surpassed 3,000 residents, and at the same time, new exclusive retail shops and world recognized restaurants were launched at The Pearl-Qatar.
It is worth noting that in the second half of this year, the company forecasts more dining and retail outlets to open at The Pearl-Qatar.
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