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United
Development Discloses Its Financial Statements for 1st Quarter
of 2017
April 19, 2017
United Development Company
disclosed the interim financial statement for the three-month
period ended March 31, 2017. The financial statements revealed a
net profit of QR 231 million in comparison to net profit QR 259
million for the same period of the previous year.
The Earnings per Share
(EPS) amounted to QR 0.65 As of March 31, 2017 versus EPS per
share QR 0.73 of the same period in 2017
The Group's
Comment
UDC's operating income dropped by 7.7% to QR267.9 million in the
first quarter of 2017, including QR 288.6 million from its core
business. Public and
administrative expenses dropped by 5.1% to QR 83.2 million.
Adding other sources of income, deducting net financing cost,
then the profit of this quarter declines by 10.9% to QR 230.8
million. Comprehensive income amounted to QR 226.8 million.
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