By: Aml Hosny
Doha – Mubasher: Qatari industry companies listed on the Qatar Stock Exchange (QSE) reported a 7.66% growth in profits for the first quarter of 2017, compared to Q1-16.
The profits of Qatar Industrial Manufacturing Company (QIMC), Qatar National Cement Company, Industries Qatar, Qatari Investors Group, Qatar Electricity and Water Company (QEWC), Aamal Company, Gulf International Services, and Mesaieed Petrochemical Holding stood at QAR 1.85 billion ($507.65 million) in Q1-17, compared to QAR 1.72 billion ($471.52 million) in Q1-16, according to a filing to the QSE.
Industries Qatar profits reached QAR 927.94 million in Q1-17, compared to QAR 697.03 million in the same quarter in 2016, rising 33.13% and acquiring 50.15% of the industrials sector total profits during Q1-17.
On the flipside, Gulf International Services’ profits slid 80.89% as it profits stood at QAR 15.08 million in Q1-17.
QEWC profits amounted to QAR 350.24 million in Q1-17, compared to QAR 347.44 million in the same quarter in the year earlier, showing a slight growth of 0.80%.
Mesaieed’s profits inched down 0.04% to QAR 212.32 million in Q1-17, compared to QAR 212.44 million in Q1-16.
Qatar National Cement Company’s profits dropped 31.47% to reach QAR 84.84 million, compared to QAR 123.79 million.
Qatari Investors Group profits rose 13.37% reaching QAR 84.86 million in Q1-17, compared to QAR 74.86 million in Q1-16.
QIMC’s profits increased 10.1% to reach QAR 60.44, while Aamal’s declined 11.38% reaching QAR 114.53 million in Q1-17.
Translated by: Mohamed Hesham Azab.
