Barwa Real Estate Net Profit Down 15.5% to QR405 MM in Q1 2018

April 25, 2018

Barwa net profit amounted to QR405 million in the first quarter of 2018, compared to QR479 million for the same period last year. The company’s earnings per share recorded QR1.04 compared to QR1.23 for the corresponding period in 2017.

The Group’s Comments:

The company’s net rental and leasing income increased by QR5 million to QR255.1 million in the first quarter of 2018, while the net revenues generated from advisory services stood at QR25.6 million with a slight increase. On another hand, the fair value gains on real estate investments declined by 12.3% to QR211 million, and general and administrative expenses dropped by half to reach QR25.9 million. After deducting depreciation and other expenses, the net profit fell by 15.5% to QR404.9 million, and comprehensive income reached QR407 million.