The Qatar Stock Exchange witnessed its listed companies cumulatively report net profit of QR10.49bn in the first three months of this year with banking and industrials sectors contributing about 74% to the overall kitty.
The cumulative net profitability is, however, down more than 4% year-on-year in the first quarter (Q1) of 2019 against about 3% growth in the comparable period of 2018, according to Qatar Stock Exchange data.
The banks and financial services sector, which has 13 listed constituents, reported a 3.96% rise in cumulative net profit to QR6.17bn compared to 12.24% growth in the comparable period of 2018. The sector contributed 58.81% in the overall net profitability.
The industrials sector, which has 10 listed constituents, witnessed a 34.27% plunge in net profitability to QR1.57bn against 28.01% increase in the year-ago period. The sector contributed 14.97% to the overall net profitability of the listed entities.
The lackadaisical performance of the industrials sector, along with the slowdown especially in the earnings of the banking sector, is seen as a matter of concern by market sources.
The realty segment, which has four listed entities, saw steep gains with net earnings surging 18.06% to QR0.85bn in the first three months of this year compared to a 56.87% decline in the year-ago period. The sector constituted 8.1% of the overall net profitability in the review period.
The transport sector, which has three listed companies, recorded an 8.16% expansion in cumulative net profit to QR0.57bn in Q1, 2019 compared to 11.53% growth in the corresponding period of 2018. The sector contributed a 5.43% to the overall net profitability in January-March 2019.
The consumer goods sector, which has nine listed entities, witnessed a marginal 0.32% decline in cumulative net profit to QR0.52bn in the first quarter of 2019 compared to a 25.38% expansion in the previous year period. The sector contributed 4.95% to the overall net profitability in the review period.
The insurance sector, which has five listed companies, reported a marginal 0.35% jump in cumulative net profit to QR0.34bn in Q1, 2019 compared to a 16.24% fall in the previous-year period. The sector contributed a 3.24% to the overall net profitability of the listed companies.
The telecom sector saw its net profit down 7.85% to QR0.46bn in January-March 2019.The sector contributed 4.39% to overall net profit in the review period.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
Qatar Chamber reviews business ties with Russian, Pakistani delegations
QNB Group launches new campaign to win ‘unique 4-day trip’ to London in private jet
Markets get a boost from OECD’s update on global indicators
Riksbank set to end negative repo rate after five years
Woodford’s bet on UK firms comes good too late for investors
Carney looms over Trudeau’s quest for next BoC chief
Pound turns golden as Johnson’s big win puts a shine on Brexit
How China’s opening of the financial sector is going
A decade of trying and yuan trading has barely scratched the dollar