Mubasher: Barwa Real Estate on Sunday announced that its profits hiked 336.4% year-on-year for the fourth quarter of 2017.

Profits amounted to QAR 480 million ($131.9 million) in the final quarter of 2017, a rise from QAR 110 million ($30.2 million) logged in Q4-16, according to the company’s statement to the Qatar Stock Exchange (QSE).

In 2017, Barwa’s profits increased to QAR 1.7 billion compared to QAR 1.6 billion in the prior year.

Earnings per share (EPS) amounted to QAR 4.38 for the year ended 31 December 2017 versus QAR 4.13 for the same period the year before, the data showed.

The real estate company’s board proposed cash dividends of 25% of the company’s capital or at QAR 2.5 per share.