Mubasher: United Development Company (UDC) reported a net profit of QAR 608 million for fiscal year 2017.

Annual revenues amounted to QAR 2 billion, the company said in a statement issued on Wednesday.

The net profit attributable to the owners of the company totals QAR 538 million, with a basic earnings per share at QAR 1.52, the statement noted.

The board of directors (BOD) has decided to hold the ordinary annual general meeting (OGM) on Wednesday 21 March, and in the absence of a quorum, the alternative meeting will be held a week later.