(MENAFN- The Peninsula) United Development Company (UDC), a Qatari shareholding company and developer of The Pearl-Qatar, yesterday announced a net profit of QR270m for the quarter ended March 31, 2015, an increase of 8 percent from same quarter last year.
The net profit attributable to owners of the company stood at QR262m as compared to QR241m in the same period of 2014, with earnings per share reaching QR0.74 for the first quarter of 2015, compared to QR0.68 in the same period of 2014.
"I am pleased with our performance as we continue to invest in our capabilities and grow our ranks with the aim of enhancing our market position while we pursue our long-term strategic initiatives. UDC has been able to deliver good quarterly results during the first quarter of the year, thanks to the continued focus on project delivery of premium residential and commercial units at The Pearl-Qatar, as well as the successful investment in strategic partnerships," said Turki Al Khater, Chairman and Managing Director of UDC.
Al Khater said that UDC is fortunate to be operating in a highly visionary and rapidly developing country, and that this backdrop presents multiple opportunities for continuing the company's sound financial performance.
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