United Development Company Net Profit Drops
to QR385 Million in Q3 2018
October 18, 2018
United Development Company (UDC) net profit
amounted to QR385 million, a drop of 11.6% compared to QR436
million for the same period last year, while the company’s
earnings per share reached QR1.09, versus QR1.23 for the same
period last year.
The Group’s Comments:
UDC profit declined 9.8% to QR622.8 million,
while other income increased by 40.5% to QR134 million. The
company’s general expenses and marketing increased by 2% to
QR222.7 million, and its net financing cost climbed by 4.6% to
QR102.5 million. As a result, the net profit attributable to
shareholders decreased by 11.7% to QR384.7 million.
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