UDC Net Profit in 2016 Drop 9.6% to QR 623 Million
February 08,
2017
United Development Company's net profit is
QR623 million compared to QR689.6 million
for the same period of the previous year.
Earnings per Share (EPS) amounted to QR1.76
compared to EPS amounted to QR1.95 for the
same period of the previous year. The Board
of Directors of the company recommended
distributing a cash dividend of QR 1.25 per
share.
The
Group's Comment
UDC's total profit increased by 25.6% to QR1041.4 million in
2016. Adding other operational revenues;
deducting public and administrative expenses
and marketing worth QR406.5 million;
deducting net financing cost worth QR86.1
million, net profit drops by 9.6% to QR
623.2 million. Moreover, comprehensive
income falls to QR531.7 million as result of
negative change in the fair value of
investments.