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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.
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