Doha - Mubasher: United Development Co on Tuesday reported a 10.8% decline in profits for the first quarter of 2017 compared to the same period in 2016.
Net profits reached QAR 231 million ($63.42 million) in Q1-17 compared to QAR 259 million ($71.1 million) in Q1-16, according to the company’s statement to the Qatar Stock Exchange (QSE).
Earnings per share (EPS) amounted to QAR 0.65 per share in the first three months of 2017 compared to QAR 0.73 per share for the same quarter of 2016.
United Development had previously posted a 7.1% decline in annual profits to reach QAR 680.86 million in 2016 compared to QAR 732.88 million in 2015.
