DUBAI, Feb 8 (Reuters) - Qatar’s Barwa Real Estate , one of the Gulf Arab state’s largest listed developers, swung to a fourth-quarter net profit on Tuesday, according to Reuters calculations.
• Net profit of 100 million riyals in the three months ending Dec. 31 versus a net loss of 518 million riyals ($142.26 million) a year earlier. • Reuters calculated based on financial statements in lieu of a quarterly breakdown. • Barwa’s 2016 net profit 1.6 billion riyals, down from 3.06 billion riyals a year ago, a bourse statement said. • The board has recommended a cash dividend of 2.5 riyals per share. This compares to last year’s proposal of 2.2 riyals. • The company did not state reasons for its financial performance.
$1 = 3.6411 Qatar riyals $1 = 3.6411 Qatar riyals Reporting by Alexander Cornwell, editing by Hadeel Al Sayegh