Mubasher: Mazaya Qatar Real Estate Development on Thursday posted a 1592% surge in its profits during the fourth quarter of 2017, compared to the year-ago period.
The real estate developer’s profits hit QAR 10.49 million ($2.9 million) during Q4-17, up from QAR 620,000 ($171,060) in the same quarter a year earlier, according to a statement to the Qatar Stock Exchange (QSE).
For the full year of 2017, Mazaya’s profits jumped 62.3% to QAR 28.14 million, against SAR 74.63 million in the year before.
Earnings per share (EPS) amounted to QAR 0.243 for the fiscal year ended 31 December 2017, compared to QAR 0.645 EPS for the corresponding period a year ago.
On Wednesday, 21 March, Mazaya’s board of directors recommended distributing no dividends for shareholders for 2017.
