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DUBAI, July 4 (Reuters) - Qatar's Barwa Real Estate
BRES.QA
, one of the Gulf Arab state's largest listed developers, reported a near-trebling of second-quarter net profit on Monday, according to Reuters calculations.
Barwa made a net profit of 550 million riyals ($151.1 million) in the three months to June 30, Reuters calculated based on previous financial statements in the absence of a quarterly breakdown.
This compares with a profit of 193 million riyals in the prior-year period, Reuters data shows.
Barwa made a net profit of 1.20 billion riyals in the first half of 2016, compared with 3.45 billion riyals in the corresponding period of last year, a bourse statement showed.
Qatari Diar, a real estate-focused unit of sovereign wealth fund the Qatar Investment Authority, owns 45 percent of Barwa.
($1 = 3.6408 Qatar riyals)
(Reporting by Tom Arnold; Editing by David French) ((Tom.Arnold@thomsonreuters.com; +97144536265; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))
Barwa made a net profit of 550 million riyals ($151.1 million) in the three months to June 30, Reuters calculated based on previous financial statements in the absence of a quarterly breakdown.
This compares with a profit of 193 million riyals in the prior-year period, Reuters data shows.
Barwa made a net profit of 1.20 billion riyals in the first half of 2016, compared with 3.45 billion riyals in the corresponding period of last year, a bourse statement showed.
Qatari Diar, a real estate-focused unit of sovereign wealth fund the Qatar Investment Authority, owns 45 percent of Barwa.
($1 = 3.6408 Qatar riyals)
(Reporting by Tom Arnold; Editing by David French) ((Tom.Arnold@thomsonreuters.com; +97144536265; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))
