Barwa 2011net profit down 8.9 pc

Doha, March 5, 2012

Qatar's Barwa Real Estate Group said on Monday its 2011 full-year net profit fell by 8.9 per cent to QR1.29 billion ($354.35 million), compared with QR1.41 billion the previous year.

The company made gains of 556 million in 2011 from the sale of properties, much higher than the 159 million riyals it made in 2010, it said in an e-mailed statement.

Barwa shares fell 5 percent on the Doha bourse at 0756 GMT.-Reuters

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