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Barwa shares dive on real estate profit decline

Qatar: The QE 20 Index closed unchanged at 9,706.57 points on Thursday. Barwa ended down 2.86% at QR25.50. Earlier in the day, Barwa said it posted in the first six months of 2013 a net profit of QR199m compared to QR593m in H1 last year. Barwa said the drop in net profits was attributed to delays in sealing certain deals which were announced earlier this year by the group.. "However, the results also show an improvement in operational efficiency leading to a 25% increase in revenues from rents," the firm added. [AMEInfo.com]
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