Qatar's UDC reports net profit of US$ 201 mn for 2015

Posted on 15th February 2016

Qatar-based United Development Company has reported a net profit of QR732.8 million ($201 million) for 2015, up eight per cent over QR676.3 million ($186 million) the year before.

Pic courtesy: Tradearabia Pic courtesy: Tradearabia

Announcing the results, the Qatari developer said the net profit attributable to owners of the company surged 10 per cent to QR689.6 million ($189 million) from QR625.6 million ($171.5 million) the previous year.

UDC board chairman Turki bin Mohammed Khaled Al Khater said 2015 was a year of achievement for UDC and he was looking forward for the same this year, according to Tradearabia news report.

"The results reflect the positive performance and progress, leading the company to propose dividend distribution of QR1.50 per share, which is more than the last year by 20 per cent," he noted.

Ibrahim Jassim Al Othman, the president and chief executive, said the increase in the company’s net profit was coupled with the increase in the earnings per share which stood at QR1.95, up 10 per cent from 2014.

Tthe year 2016 will witness the execution of the company’s strategy focusing on its core activities, while devoted to meet the shareholders’ expectations, he added.

Back to all Construction News

Share this story: