Doha: Barwa Real Estate Group announced yesterday a net profit of QR2.78bn for the year ending December 31 2014, compared to QR1.38bn achieved the previous year.
Earnings per share amounted to QR7.14 for 2014, compared to QR3.53 achieved the previous year. The profit saw a 102 percent increase year-on-year. The board suggested a cash dividend of QR2.20 a share. In a statement released to the press, the company said the group increased the shareholders ownership rights in to reach QR15,759m as on December 31, 2014.
Rental revenue increased by 12 percent to reach QR131m, while the group also reduced general and administrative costs by QR95m, equivalent to 22 percent, the company said. QNA
