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United Development profits rise 141.1% in Q3

United Development profits rise 141.1% in Q3
UDC profits reached QAR 151.64 million ($41.61 million) in Q3-16(Photo Credit: UDC Facebook account)
United Development
UDCD
-0.27% 1.13 -0.00

Doha – Mubasher: United Development Company (UDC) posted a growth by 141.1% year-on-year in its profits during the third quarter of 2016, according to a bourse statement.

Profits reached QAR 151.64 million ($41.61 million) in Q3-16, compared to QAR 62.89 million ($17.26 million) in Q3-15.

In the first nine months of 2016, profits fell 22% to QAR 483.64 million from QAR 619.89 million in the prior-year period.

Earnings per share (EPS) reached QAR 1.28 as at 30 September 2016, compared to QAR 1.68 during the same period last year.