While net profits increased 14% to QAR537.6m for the first nine months of 2012, as compared to the same period of 2011, excluding revaluation gain on investment properties amounting to QAR1.370bn, the profit attributable to owners of the company stood at QAR417.4m, with earnings per share reaching QAR1.24 for the first nine months of 2012 compared to QAR8.10 in the same period of 2011 due to the revaluation gain on investment properties.
Total assets climbed to QAR19.494bn, marking a healthy increase over 2011's reported assets of QAR19.056bn. Moreover, UDC reported a gross profit of QAR631m, compared to QAR493m for the same period last year.
Established in 1999, UDC was listed on the Qatar Exchange in June 2003. Companies under its umbrella include United Fashion Company, Hospitality Development Company and Ronautica Middle East.
Companies established most recently under the umbrella of United Development Company include Madinainova, United Facilities Management Company and The Pearl Owners Corporation.
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UDC announces its Q3 2012 results
- Qatar: Monday, October 22 - 2012 at 09:24
- PRESS RELEASE
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United Development Company (UDC), one of Qatar's leading public shareholding companies, has announced another strong performance with a reported revenue of QAR2.076bn compared to QAR1.095bn in the same period, 2011.
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Posted by Nadeen El AjouMonday, October 22 - 2012 at 09:24 UAE local time (GMT+4)
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