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Qatar's Barwa Real Estate swings to Q4 net loss
February 21, 2016 / 8:07 PM / 2 years ago

Qatar's Barwa Real Estate swings to Q4 net loss

DOHA, Feb 21 (Reuters) - Qatar’s Barwa Real Estate , one of its largest listed developers, swung to a loss in the fourth quarter, according to Reuters calculations on Sunday.

Barwa made a net loss of 518 million riyals ($142.3 million) in the three months to Dec. 31, Reuters calculated, based on Barwa’s annual financial statement, in lieu of a quarterly breakdown. It made a profit of 2.10 billion riyals in the same period a year ago.

The company’s 2015 profit was 3.06 billion riyals, versus 2.78 billion riyals in 2014, it said in a short bourse statement.

Barwa’s board has recommended paying a cash dividend of 2.2 riyals per share, the same payout as the previous year . ($1 = 3.6410 Qatar riyals) (Reporting by Tom Finn)

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