United Development Company Posts Quarterly Profits of QR261.8 Million

Doha, April 26 (QNA) - United Development Company UDC disclosed Sunday the interim financial statement for the three month period that ended March 31, 2015. The statements revealed a net profit of QR 261.8 Million, up from the QR 241.4 achieved during the same period of 2014. The Earnings per Share (EPS) amounted to QR 0.74 in the first quarter of 2015, compared to QR0.68 during the same period of 2014. Commenting on the company's financial results, UDC Chairman and Managing Director Turki Al Khater said: "I am pleased with our performance as we continue to invest in our capabilities and grow our ranks with the aim of enhancing our market position while we pursue our long-term strategic initiatives." He added that UDC's strong performance in the first quarter of 2015 was a result of the continued focus on project delivery of premium residential and commercial units at The Pearl-Qatar. Al Khater added that UDC is fortunate to be operating in a highly visionary and rapidly developing country, and that this backdrop presents multiple opportunities for continuing the company’s sound financial performance. (QNA)