By Mahmoud Gamal:

Doha-Mubasher: Analysts expected the profit of Barwa Real Estate to surge by 110% to QAR 3 billion in the fiscal year (FY) 2014, compared to QAR 1.37 billion in FY13.

Estimates showed that Barwa will achieve a profit of QAR 2.5-3 billion by the end of 2014, Arab capital market analyst Badr Al Darzi said in a comment to Mubasher.

It is worth highlighting that the company had reported a profit rise by 44% to QAR 673.4 million during the first nine months of 2014, compared to QAR 467.4 million during the same period of 2013.

Al Darzi added that Barwa is anticipated to distribute a cash dividend of 25-30% (QAR 2.5-3 per share).

The company has scheduled its board meeting to be held on March 8 to discuss the dividends for FY14.

Mahmoud Abu Zied, financial analyst at Nama Economic Consulting Co, explained that Barwa’s expansion plans in Lusail City will push its growth rates up.

Commenting on the structure plans, Abu Zied said that exiting the loss-making units will boost the company’s future growth.

Moreover, Barwa’s stock rose 40.6% to QAR 41.9 in 2014, compared to QAR 29.80 in December 2013.

Capital markets technical consultant Ibrahim Al-Failakawi said in a statement to Mubasher that the stock is expected to maintain a positive performance and break the level of QAR 50 then QAR 60 respectively.
 

Translated by Julian Nabil