United Development Company (UDC) announced an increase of 11.9 percent in its net profit for the first half of 2023 to reach a Net Profit of QR 187,590,000 in comparison to a Net Profit QR 167,600,000 for the same period of 2022.

A company statement, published by Qatar Stock Exchange (QSE) website on Wednesday, indicated that Earnings per share (EPS) amounted to QR 0.053 as of 30th June 2023, versus Earnings per share (EPS) QR 0.047 for the same period in 2022.

UDC was established in 1999 and was first listed on the QSE in June 2003. It has an authorized share capital of QR 3.5 billion and total assets of QR 19.6 billion as at 30 June 2023.

UDC activities cover a multitude of vital investment sectors including real-estate development, property management, infrastructure and utilities, district cooling, maritime, and hospitality-related businesses.

Source: Qatar News Agency