UDC announces QR57m net profit for first quarter
22 Apr 2021 - 9:28
The Peninsula
United Development Company (UDC), a leading Qatari public shareholding company and the master developer of The Pearl-Qatar and Gewan Island, announced yesterday net profit of QR57m on revenues of QR351m.
The net profit attributable to the equity shareholders stood at QR46m with basic earnings per share of QR0.013. UDC Chairman, Turki bin Mohammed Al Khater said: “UDC is moving steadily in 2021 to achieve good revenues and profits although of the challenging real-estate market”.
Al Khater added: “We will endeavor to continue delivering across all our projects while remaining committed to our overall development plans which will ensure UDC’s sustainable growth and the creation of new opportunities and revenue sources over the long term.
Middle EastMIDEAST STOCKS Q1 earnings boost most Gulf markets; Egypt retreats
Ateeq Shariff
3 minutes read
Most Gulf stock markets ended higher on Thursday, led by a slew of corporate earnings, while Egypt was hit by a blue-chip sell-off.
Saudi Arabia s benchmark index (.TASI) closed up 0.4%, with Al Rajhi Bank (1120.SE) rising 0.8%, extending gains from the previous session when it reported first-quarter earnings.
The kingdom s biggest Islamic lender said net profit in the three months ended March 31 rose to 3.34 billion riyals ($891 million). It made a net profit of 2.38 billion riyals in the same period a year earlier.
Elsewhere, Saudi Telecom (7010.SE), which reported a larger net profit for the first-quarter, finished 1% higher.
MIDEAST STOCKS Most major Gulf markets gain; Qatar dips reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
01 Apr 2021 - 8:48
Development works in progress at Gewan Island.
The Peninsula
United Development Company (UDC), a leading Qatari public shareholding company and master developer of The Pearl-Qatar and Gewan Island, yesterday announced a major safety milestone of exceeding five million safe working-hours without any Lost Time Injury (LTI) across its operations in Gewan Island.
While this milestone demonstrates UDC’s commitment to maintaining a safe working environment, it is especially significant in view of the project’s magnitude, complexity and fast track nature as UDC manages four very diverse but highly interrelated work packages.
In this context, UDC’s construction team and project contractors continue to promote the highest construction health & safety standards with proactive management by ensuring close cooperation and communication on COVID-19 mitigation measures, logistics, emergency and contingency planning, inclement weather preparation and general hea
UDC s Gewan Island marks 5 million safe man-hours - The Peninsula Qatar thepeninsulaqatar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thepeninsulaqatar.com Daily Mail and Mail on Sunday newspapers.