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Tue 27 Oct 2015 10:29 AM

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Qatar's Barwa Real Estate 9-month profit surges 420%

Gulf developer has not provide details to explain the huge profit jump

Qatar's Barwa Real Estate 9-month profit surges 420%

Qatar's Barwa Real Estate, one of the Gulf Arab state's largest listed developers, reported a huge jump in nine-month net profit on Tuesday.

Barwa made a net profit of 3.5 billion riyals ($933.61 million) in the nine months to September 30, up from 673 million riyals a year earlier, it said in bourse statement.

The company did not state its quarterly revenue or provide further details to explain the profit jump.

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