DUBAI, Feb 8 (Reuters) - Qatar's Barwa Real Estate, one of the Gulf Arab state's largest listed developers, swung to a fourth-quarter net profit on Tuesday, according to Reuters calculations.
Net profit of 100 million riyals in the three months ending Dec. 31 versus a net loss of 518 million riyals ($142.26 million) a year earlier.
Reuters calculated based on financial statements in lieu of a quarterly breakdown.
Barwa's 2016 net profit 1.6 billion riyals, down from 3.06 billion riyals a year ago, a bourse statement said.
The board has recommended a cash dividend of 2.5 riyals per share. This compares to last year's proposal of 2.2 riyals.
The company did not state reasons for its financial performance.
($1 = 3.6411 Qatar riyals)
($1 = 3.6411 Qatar riyals)
(Reporting by Alexander Cornwell, editing by Hadeel Al Sayegh) ((Alexander.Cornwell@thomsonreuters.com;))
Net profit of 100 million riyals in the three months ending Dec. 31 versus a net loss of 518 million riyals ($142.26 million) a year earlier.
Reuters calculated based on financial statements in lieu of a quarterly breakdown.
Barwa's 2016 net profit 1.6 billion riyals, down from 3.06 billion riyals a year ago, a bourse statement said.
The board has recommended a cash dividend of 2.5 riyals per share. This compares to last year's proposal of 2.2 riyals.
The company did not state reasons for its financial performance.
($1 = 3.6411 Qatar riyals)
($1 = 3.6411 Qatar riyals)
(Reporting by Alexander Cornwell, editing by Hadeel Al Sayegh) ((Alexander.Cornwell@thomsonreuters.com;))
