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UNITED DEVELOPMENT COMPANY ANNOUNCES Q1 2020 FINANCIAL RESULTS
Net profit of QR 57 million on revenues of QR 296 million
United Development Company (UDC), the master developer of The Pearl-Qatar and Gewan Island, announced its financial results for the first quarter of 2020, reporting net profit of QR 57 million on revenues of QR 296 million. The net profit attributable to the equity shareholders stood at QR 49 million and basic earnings per share was QR .014.
UDC is a leading Qatari public shareholding company with a mission to identify and invest in long-term projects contributing to Qatar’s growth and providing shareholder value. Established in 1999, the Company was first listed on the Qatar Exchange in June 2003. It has an authorized share capital of QR 3.5 billion and total assets of QR 18 billion as at 31 March 2020.
UDC activities cover a multitude of vital investment sectors including real estate development, property management, infrastructure and utilities, maritime and hospitality related businesses.