UDC Net Profit Fell to QR215 Million in
First Quarter of 2018
April 30, 2018
The net profit of United Development Company
(UDC) amounted to QR215 million in the first quarter, compared
to QR231 million for the same period last year. UDC’s earnings
per share recorded QR0.61, versus QR0.65 for the corresponding
period of 2017.
The Group’s Comments:
UDC’s gross profit stood at QR289.5 million
in the first quarter with a slight increase. General and
administrative, as well as sales and marketing expenses
increased by 7.4% to QR89.4 million. Net financing cost stood at
QR44.4 million. After adding other income, the net profit
attributable to equity holders decreased by 7% to QR214.5
million in this quarter.
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