Mubasher: Profits of the industrial companies listed on the Qatar Stock Exchange (QSE) increased by 22.04% year-on-year in the third quarter of 2018, according to Mubasher’s statistics.
The industrial sector’s profits hiked to QAR 2.29 billion ($630.1 million) in Q3-18, up from QAR 1.88 billion ($517.3 million) in Q3-17.
The industrial sector consists of nine companies; namely Industries Qatar, Qatari Investors Group, Qatar Electricity and Water Company, Aamal Company, Gulf International Services, Mesaieed Petrochemical Holding, Investment Holding Group, Qatar Industrial Manufacturing, and Qatar National Cement.
During the three-month period ended September, Industries Qatar’s profits jumped 76.20% to QAR 1.3 billion, followed by Mesaieed Petrochemical Holding, which recorded a profit of QAR 361.4 million.
None of the sector’s companies turned to loss during Q3-18, but only six companies witnessed a drop in their profits over the quarter.
For the first nine months of 2018, profits of the nine industrial firms went up 27.4% to QAR 5.98 billion, from QAR 5.48 billion in the same period of the prior year.
Assets also increased by 3.7% to QAR 99.8 billion for the nine-month period ended September, versus QAR 96.2 billion in the same period the year before.
Industries Qatar acquired the majority of profits with QAR 3.8 billion, followed by Qatar Electricity and Water Company and Mesaieed Petrochemical Holding with QAR 1.2 billion and QAR 1.02 billion, respectively.
Mubasher’s survey showed that revenues of the nine industrial companies listed on the Qatari bourse rose 7.2% to QAR 12.2 billion during the period between January and September of this year, from QAR 11.3 billion in the same period of the previous year.