UDC Reports Net Profit of QR 229 Million

Doha, April 21 (QNA) - United Development Company (UDC), one of Qatars leading and most recognized public shareholding companies, today announced another strong performance in the first three months of 2013. Net profit for the first three months stood at QR229 million, compared to net profit in the first quarter of 2012 of QR196.8 million, an increase of 16%. The net profit attributable to owners of the company stood at QR 209 million, with earnings per share reaching QR 0.62 for the first quarter of 2013, compared to QR 0.41 in the same period of 2012, a healthy increase of 51% from Q1 2012 figures. Q1 gross profit was reported at QR 277 million, compared to QR 236 million for the same period last year. United Development Company is one of Qatars leading shareholding companies. During the past few years, UDC has established successful strategic partnerships with major international companies operating in different fields. UDCs target areas of interest include: infrastructure and utilities, real estate, hydrocarbon and energy, urban development, environmental-related businesses, hospitality and leisure, fashion, information technology, business and marketing services. (QNA)