Doha: United Development Company's (UDC) announced its financial results for the first quarter of 2024, reporting net profit of QR 76 million in comparison to net profit QR 88 million for the same period of the previous year, a decrease of 13.6%. UDC, the master developer of The Pearl and Gewan Islands, said that the Earnings per Share (EPS) amounted to QR 0.020 as of March 31, 2024 versus Earnings per Share (EPS) QR 0.025 for the same period in 2023. UDC added that it achieved revenues of QR 471 million, and that it strives to achieve balance between revenue and expenses reducing the impact of increase in financing cost in the first quarter of the year 2024. Established in 1999, UDC was first listed on the Qatar Exchange in June 2003. It has an authorized share capital of QR 3.5 billion and total assets of QR 19.5 billion as at March 31, 2024. UDC activities cover a multitude of vital investment sectors including real estate development, property management, infrastructure and utilities, maritime, and ho spitality related businesses. Source: Qatar News Agency
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