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FINANCIAL NEWS
Qatar’s UDC profits grow by 68pct in Q1
18 Apr 2017
(MENAFN) United Development Co. (UDC) proclaimed that it has achieved revenue of QR244mn, whereas the net profit attributable to equity shareholders reached QR231mn in Q1 this year.
Meanwhile, basic earnings per share reached QR0.65, proclaimed the firm, which is a leading Qatari shareholding firm and master developer of The Pearl-Qatar.
The first quarter of this year also saw an increase in profits of 68 percent compared to the same period of 2016, which reiterates the firm’s capacity to offer source of income.
Through the cited period, the volume of leased retail properties increased by 22 percent compared to the first quarter of 2016, in addition to the sales volume of residential units of 25pct on a year on year basis.
MENAFN1804201700450000ID1095401155
MENAFN1804201700450000ID1095401155
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