By: Eman Gahly
Mubasher: The financial statements of the industrial companies listed on the Qatar Stock Exchange (QSE) showed a surge of 96.24% year-on-year in profits during the fourth quarter of 2017, according to Mubasher’s statistics.
The industrial sector’s profits hiked to QAR 1.99 billion ($546.7 million) in Q4-17, up from QAR 1.01 billion ($277.4 million) in the same quarter a year earlier.
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 last three month of 2017, Industries Qatar’s profits jumped 316.8%, while Qatar Industrial Manufacturing’s profits surged 234.3%.
None of the sector’s companies turned to loss during Q4-17, but only three companies witnessed a drop in their profits.
Profits of the nine companies levelled up 5.9% to QAR 7.43 billion in Q4-17 from QAR 7.01 billion in Q4-16, the statistics showed.
Gulf International Services’ stock recorded the highest annual growth over the previous year adding 26.9%, while Industries Qatar’s stock achieved the highest profits amounted to QAR 3.3 billion.
On the other hand, the industrial sector’s revenues declined 11.6% to QAR 15.08 billion in 2017 from QAR 17.06 billion in the prior year.
By the end of 2017, assets of the QSE-listed industrial companies levelled up 0.74% to QAR 99.08 billion versus QAR 96.37 billion in the previous year.
Cash dividends of the nine listed companies hiked 10.4% for the full year 2017, encouraged by the companies’ performance and high profits.
Total dividends of eight companies reached QAR 5.66 billion in 2017, compared to QAR 5.12 billion in the previous year.
Gulf International Services was the sector's only company that recommended no dividends for 2017.
Translated by: Kholoud Mohamed Hussein