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Wed 26 Oct 2016 02:21 PM

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Qatar's Barwa Real Estate says Q3 profit rises 136.2%

Developer posts net profit of $81.6m in the three months to September 30

Qatar's Barwa Real Estate says Q3 profit rises 136.2%

Qatar's Barwa Real Estate, one of the Gulf Arab state's largest listed developers, reported a 136.2 percent rise in third-quarter net profit on Tuesday, according to Reuters calculations.

Net profit of 297.4 million riyals ($81.6 million) in the three months ending Sept. 30 versus 125.9 million riyals a year earlier. Reuters calculations based on financial statements in lieu of a quarterly breakdown.

Barwa's nine-month net profit 1.50 billion riyals, down from 3.57 billion riyals a year ago, a bourse statement said.

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