Barwa Net
Profit in 2016 Drop 47.4% to QR 1605 Million
February 08,
2017
Barwa Real Estate
net profit is QR1605 million
compared to QR 3056 million for the same
period of the previous year. Earnings per
Share (EPS) amounted to QR4.13 compared to
QR7.86 for the same period of the previous
year. The Board of Directors recommended
distributing a cash dividend of QR 2.5 per
share.
The Group's Comment
The company's total revenues from rent and
finance settled at the level of QR1008
million, slightly up. Consultancy services
also hiked to QR146.1 million. Adding net
profit from the positive change in the fair
value worth QR668 million; deducting
administrative and public expenses, which
dropped by QR21.5 million to 240.7 million;
deducting net financing cost worth QR 81
million, then the net profit attributable to
the shareholders drops to 1605.3 million,
compared to QR 2947 million in the previous
year. Notably, a great part of the profit
made last year was the result of the sale of
properties worth QR 2.7 billion.