QSE-listed firms post profit of QR19.6bn in H1
August 11 2019 08:11 PM
qse

The Qatar Stock Exchange-listed firms cumulatively reported net profit of QR19.6bn in the first half (H1) of this year, showing more than 6% decline year-on-year.
The banking sector alone constituted about 63% of the overall net profitability of the 45 listed companies during the review period, according to figures released by the QSE.
The cumulative net profitability had, however, reported about 5% expansion year-on-year in the first half of 2018.
The robust performance of the telecom and insurance sectors in H1 2019 was masked by earnings retardation, especially in the industrials and consumer goods sectors and slowdown in the profitability of banking and transport sectors.
The banks and financial services sector, which has 13 listed constituents, reported a 5.16% rise in cumulative net profit to QR12.25bn against a 7.82% growth in the comparable period of 2018. The sector contributed 62.5% in the overall net profitability.
The industrials sector, which has 10 listed constituents, witnessed a 38.62% plunge in net profitability to QR2.88bn against a 30.21% increase in the year-ago period. The sector contributed 14.69% 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, who said a big push is needed in lifting the sentiments in the sector for an overall growth momentum within the Qatar Inc.
The realty segment, which has four listed entities, saw a 23.03% fall in net earnings to QR1.17bn in the first six months of this year compared to a 36.43% decline in the year-ago period. The sector constituted 5.97% of the overall net profitability in the review period.
The transport sector, which has three listed companies, recorded a 7.27% growth in cumulative net profit to QR0.91bn in H1, 2019 compared to 9.75% rise in the corresponding period of 2018. The sector contributed 4.64% to the overall net profitability in January-June 2019.
The consumer goods sector, which has nine listed entities, witnessed a 2.47% decline in cumulative net profit to QR0.94bn in the first half of 2019 compared to an 11.31% expansion in the previous year period. The sector contributed 4.8% to the overall net profitability in the review period.
The insurance sector, which has five listed companies, reported a 2.48% rise in cumulative net profit to QR0.54bn in H1 2019 compared to a 17.23% fall in the previous year period. The sector contributed 2.76% to the overall net profitability of the listed companies.
The telecom sector saw its net profit surge 24.52% to QR0.92bn in January-June 2019.The sector contributed 4.69% to overall net profit in the review period.



There are no comments.

LEAVE A COMMENT Your email address will not be published. Required fields are marked*
MORE NEWS