Mubasher: United Development Company on Sunday revealed a 7% year-on-year decline in its profits for the first quarter of 2018.

Net profits amounted to QAR 215 million in Q1-18, compared to QAR 231 million in Q1-17, according to the company’s recent statement to the Qatar Stock Exchange (QSE).

Earnings per share (EPS) declined to QAR 0.61 for the first three months of 2018, versus QAR 0.65 a share for the same period a year before.

For the full-year 2017, United Development’s profits dropped 13.6% to QAR 538.4 million, from QAR 623.2 million in 2016.

By the end of Sunday’s session, United Development’s stock rose 1.64% at QAR 14.86.