The developer behind Qatar's flagship Pearl project has posted net profit of more than $1bn for 2011, more than six times the 2010 figure.
United Development Company (UDC), which saw its president and managing director Khalil Sholy resign earlier this month, reported a net profit of QR3.772bn ($1.03bn) for last year compared with QR617m for 2010.
Total assets increased to QR19.056bn, compared to QR10.878bn as of the end of 2010, it said in a statement.
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