Wednesday, May 01, 2013
(This article was originally published on Tuesday.)
DUBAI (Zawya Dow Jones)--Qatar's Barwa Real Estate Co. (BRES.DO) said first-quarter net profit almost halved to 158.5 million Qatari riyals ($43 million), from QAR292.5 million a year ago.
Earnings per share in the three months ending March 31. amounted to QAR0.41, down from QAR0.75 in the year earlier quarter, Barwa said in a brief statement posted on the Qatar Exchange website. It didn't give a reason for the decline in profit or any other details related to its first quarter performance.
Qatari Diar, the property arm of Qatar Investment Authority, the Arab Gulf state's sovereign wealth fund, owns a 45% stake in Barwa.
Barwa shares closed trading Monday at QAR24.39.
Write to Tim Falconer at tim.falconer@dowjones.com
Copyright (c) 2013 Dow Jones & Co.
(END) Dow Jones Newswires
01-05-13 0344GMT
