Qatar's Barwa Real Estate profits up 27.3% - Property - ArabianBusiness.com

Qatar's Barwa Real Estate profits up 27.3% - Property - ArabianBusiness.com:



"Qatar's Barwa Real Estate said on Thursday that its 2013 net profit rose 27.3 percent, indicating that the Gulf Arab state's largest listed developer made a significant fourth-quarter net profit.



Barwa, which agreed a $7.1bn financial assistance package with state real estate firm Qatari Diar in June, made QAR1.4bn ($384.5m) in 2013, up from QAR1.1bn in the prior year, according to a bourse filing.



The firm did not provide a quarterly breakdown.



However, given that the nine-month profit reported in October was 40 percent lower year-on-year at QAR467.5m, this points to Barwa making a net profit of more than QAR900m in the final three months of the year."



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