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.