Post: UDC Announces QR150 Million Profits in 2024 First Half

Doha: United Development Company (UDC) (a Qatari public shareholding company) has announced net profits amounting to QR 150 million for the first half of 2024, ending on June 30, compared to QR189 million for the same period of 2023. The UDC said in a statement on Wednesday that the basic earnings per share amounted to QR 0.041 during the first half of 2024, compared to QR 0.053 for the first half of 2023. The statement indicated that the companys revenues for the first half of the year 2024 amounted to QR 829 million, adding that the United Development Company (UDC) continues its development process on Pearl Island with the near completion of the Pearl International Hospital, scheduled to open in the third quarter of 2024, as this facility is expected to provide the company with a steady, long-term stream of revenue. United Development Company (UDC) was established in 1999 and was listed on the Qatar Stock Exchange in June 2003. The UDC has an authorized capital of QR 3.5 billion , and total assets of QR 19.5 billion as of June 30, 2024. Source: Qatar News Agency