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FINANCIAL NEWS
Qatar’s UDC records USD96.91mn net profit
19 Jul 2016
(MENAFN) United Development Co. (UDC) has delivered a net profit of USD96.91mn for the first half of this year, while the net profit attributed to the holders stood at USD91.14mn.
Moreover, USC’s shares climbed 2.17 percent, despite challenging market conditions, whereas the firm’s resilient business model enabled it to get results of this year.
Accordingly, the firm will achieve recurring revenue and will continue offering stakeholders with attractive investment products and services to identified market needs.
The firm’s strategy turned successful with the sales of a tower plot in Viva Bahriya precinct, sale of different plots in Giardino Villas as well as the signing of MOU.
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