Barwa posts 84% rise in profit
Complex Made Simple

Barwa posts 84% rise in profit

Barwa posts 84% rise in profit

Qatar's Barwa Real Estate Co has posted an 84% surge in full-year profit to QR1.4bn compared to QR766m in 2009, on income from rents and services and profit on the sale of properties. "Increased revenues from rents and services and profit on the sale of properties and projects and sale of Barwa's stake in a subsidiary, along with other exceptional returns resulting from Barwa being exempted from some commitments, led to this increase in net profits during 2010," the developer said in a statement. Barwa's total assets reached QR74bn, up 111% from QR35bn as at December 31, 2009, while total revenues rose to QR8bn from QR3bn in the previous year.

    Author
    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

    © 2021, ADigitalcom. All rights reserved