| |
Barwa Real Estate Net Profit Drops to QR
1,083 Million in Q3 2018
October 29, 2018
Barwa Real Estate Group net profit
amounted to QR1083 million, compared to QR1222 million for the
same period last year, while the company’s earnings per share
reached QR2.78, versus QR3.14 for the corresponding period of
2017.
The Group’s Comments:
Barwa's revenues from rents and
leasing stood at QR729.6 million, while its services net
revenues decreased by 63.6% to QR74.2 million. After adding
QR105.1 million in real estate profits, gains in the fair value
of real estate of QR277 million, QR58.6 million from reversals
of impairment and another QR140.4 profit from debt rescheduling,
and after deducting the cost of financing, which increased by
38% to QR197.6 million, the result is a net profit of QR1,083.2
million, a decrease of 11.4%.
|