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Qatar’s Barwa posts 8.9 percent drop in 2011 net profit

Qatar’s Barwa posts 8.9 percent drop in 2011 net profit

Qatar's Barwa Real Estate Group said on Monday its 2011 full-year net profit fell by 8.9 percent to 1.29 billion riyals ($354.35 million), compared with 1.41 billion riyals the previous year.

March 5, 2012 1:29 by



The company made gains of 556 million in 2011 from the sale of properties, much higher than the 159 million riyals it made in 2010, it said in an e-mailed statement.

Barwa shares fell 5 percent on the Doha bourse at 0756 GMT. (Reporting By Mirna Sleiman; Editing by Dinesh Nair)



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