Qatar's Barwa reveals 2012 net profit increase
Firm made $466m in 2012 versus $384m in 2011
Qatar's Barwa Real Estate Company has disclosed its financial statements for the year ended 31 Decembe, 2012. It made a net profit of QR1.17bn ($466m) in 2012 versus QR1.41bn ($384m) in 2011.
The earnings per share amounted to QR. 3.01 for 2012 compared to QR. 3.64 in 2011.
The Board of Directors approved to recommend to the General Assembly to approve distribution of cash dividend totaling (10 %) of the capital to the shareholders, equivalent to (1) one Qatari Riyal per share.
Barwa was founded in November 2005.
Qatari Diar, a company owned by the Qatar Investment Authority holds a 45% share in Barwa, which is the largest listed real estate company in Qatar in terms of real estate developments.