Profits fall 40% at Qatar’s bailed-out Barwa Real Estate - Alarabiya.net English | Front Page

Profits fall 40% at Qatar’s bailed-out Barwa Real Estate - Alarabiya.net English | Front Page:

"

Qatar’s Barwa Real Estate has been cutting staff and selling assets to pay down its debts. (File photo: Reuters)

Struggling Qatari property firm Barwa Real Estate, given $7.1 billion in support by the state in June, posted a 40 percent drop in net profit for the first nine months of 2013.
The company, Qatar’s largest listed developer, made a net profit of 467.5 million riyals ($128.4 million) for the nine months ending Sept. 30, down from 779.1 million riyals a year earlier, it said in a statement to Doha's bourse on Monday.
No quarterly figures were provided by the company."

'via Blog this'