UDC Announces 2011 Semi-Annual Financial Results

Doha, July 24 (QNA) - United Development Company (UDC) has reported a net profit attributable to the owners of the company of QR 346.8 million for the first half of 2011.
"UDC s earnings per share reached QR 2.16 for the first six months of 2011, while reporting a gross profit of QR 355.7 million compared to QR 279.9 million for the same period last year, a UDC statement said here today. Total assets of UDC amounted to QR 12.558 billion compared to QR 10.166 billion in the same period in 2010.
UDC Chairman Hussein Al Fardan attributed the company s financial performance and continued success to Qatar s economic progress and stability under the vision and wise leadership of HH the Emir Sheikh Hamad Bin Khalifa Al Thani and HH the Heir Apparent Sheikh Tamim Bin Hamad Al Thani.
Managing Director and President of UDC Khalil Sholy said: "the results exhibited in the first half of 2011 reflect the steady performance by UDC and its subsidiaries. The results show that the board and management of UDC have effectively implemented the correct strategy and we look forward to continued growth in the second half of the year." (QNA)