Qatari real estate developer United Development Company reported a 81 percent rise in fourth-quarter net profit late on Tuesday, according to Reuters calculations.
• Net profit of 171.4 million riyals ($47.07 million) in the three months ending Dec. 31 versus 94.5 million riyals a year earlier. • Reuters calculated based on financial statements in lieu of a quarterly breakdown. • United Development Company’s 12-month annual net profit 623 million riyals, down from 690 million riyals a year ago, a bourse statement said.
• The board has recommended a cash dividend of 1.25 riyal for each share, the statement said. ($1 = 3.6411 Qatar riyals) (Reporting by Alexander Cornwell, editing by Hadeel Al Sayegh)