Barwa Real Estate Discloses Its Financial Statements for Three-Month Period Ended March 31, 2017.

April 25, 2017

Barwa Real Estate disclosed the interim financial statement for the three-month period ended March 31, 2017. The financial statements revealed a net profit of QR 479,428 thousand in comparison to a net profit of QR 651,458 thousand for the same period of the previous year.

The Earnings per Share (EPS) amounted to QR 1.23 as of March 31, 2017 versus EPS QR 1.67 for the same period in 2016.

The Group's Comment

Barwa's income revenues from rentals and financial lease in the first quarter amounted to QR 251.2, slightly up compared to the same period last year, net consultancy income and other sources of income dropped by 34.5% to QRr24.5 million.   Net fair value gains on real estate investments dropped by 21.6% to 240.5 million. Total expenses dropped by 14.25 to QR90 million. As result, net profit fell by 28.4 % to QR 479.4 million.