UDC posts QR 298.7 mln net profit

The United Development Company (UDC) disclosed the semi annual financial statements for the period ending June 30, 2012. The reviewed financial statements for the period ending June 30, 2012 revealed a net profit of QR 298.7 million in comparison to QR 346.8 million for the same period last year, the company said in a statement. The company's Earning per Share (EPS) amounted to QR 0.89 as of June 30, 2012 versus QR 1.54 for the corresponding period in 2011. United Development Company PSC (UDC) is a leading Qatari shareholding company with a mission to identify and invest in long-term projects contributing to Qatar's growth and providing good shareholder value. Established in 1999, the company was listed on the Qatar Exchange in June 2003.