Barwa profits jumps to QR2.7bn

Qatar's Barwa Real Estate Group announced Monday a net profit of QR 2,778 million for the year ending December 31 2014, compared to QR 1,375 million achieved the previous year.
Earnings per share amounted to QR 7.14 for 2014, compared to 3.53 achieved the previous year. Profit saw a 102% increase year-on-year. The board suggested a cash dividend of QR2.20 a share. In a statement released to the press today, the company said the group reduced total commitments by QR 19,829 billion, to reach QR 12,984 million, as well as increasing the shareholders ownership rights in the group by QR 1,948 billion to reach QR 15,759 million on 31 Dec 2014.
Rental revenue increased by 12% to reach QR131 million while the group also reduced general and administrative costs by QR 95 million, equivalent to 22%.