Mubasher: United Development Co achieved a growth of 74.6% in profits to QAR 197.22 million ($54.12 million) during the fourth quarter of 2016, from QAR 112.99 million ($31.01 million) in the corresponding period a year ago.

During the fiscal year of 2016, earnings shrank by 7.1% to QAR 680.86 million from QAR 732.88 million in FY15, according to a recent bourse filing.

Earnings per share reached QAR 1.76 in FY16 from QAR 1.95 in FY15.

Board members recommended a cash dividend of 12.5% or QAR 1.25 per share, with an overall value of QAR 442.61 million.