"Barwa Company one of the leading Real Estate and investment Company in Qatar has announced its fiscal results for period ending Sept 2014. The results have shown net profit worth 673 million Qr. And a return of Qr. 1.75 for each share in the same period. In coparison of 467 million and 1.73 a share during the same period in 2013.
Financial results show an improvement of Qr. 206 million an increase of 44% as compared to period ending September 2013, the increase in profit is a direct results of the company being keen to improve work efficiency by increasing revenue and at the same time improving spending management. This became obvious by the increase in total revenue and profit from ongoing operations worth Qr. 114 million an increase of 10%, this include an improvement in rentals and facilities in compared to same period ending September 2013 and includes a decrease in administrative and general spending of 24%.
The main goal of Barwa Real Estate members is to prepare for the coming phase in the future of the company which is in sync with the image of the shareholders , which emphasizes the role Barwa plays as a main partner in developing our beloved nation in realizing Qatar’s vision for 2030. Which is a period of time that will require working together for better performance in all areas .
On the financial side: Barwa has succeeded in lowering financial obligations to Qr. 8 billion in comparison to 28 Billion on December, 30 2013 and this was due to many successful deals made and announced in that period and this effected the decrease the funding by Qr. 80 million in comparison of the same period ending September 30, 2014, and this is expected to continue due to the financial restructuring the company is perusing to minimize its current dept.
On the operations’ side , the group has recently announced “Motor City Project” and Barwa is working on finishing projects that are under development. Like the labor camp in the Baraha Project , the accommodations for “Shell” in Al Khor area and making them operational to support the revenue of the operational side."