Qatar's listed firms reported net profit of QR39.42bn during the first nine months (9M) of 2022 but their overall net earnings growth slowed on an annualised basis.
The net earnings of the listed companies grew 19.29% year-on-year during January-September 2022 compared to 35.86% the previous year period, according to the data compiled by the Qatar Stock Exchange.
The 9M-2022 net profitability expansion was still in double digit owing to similar growth pattern in the consumer goods, industrials, transport and real estate sectors.
The banking and financial services and industrials sectors together contributed about 81% of the cumulative net profits during 9M-2022.
The consumer goods and services sector, which has 10 listed entities, saw a 25.78% year-on-year expansion in total net profit to QR1.65bn at the end of nine-month ended September 2022 against a huge 105.48% growth the previous-year period. The sector contributed 4.19% to the overall net profitability in the review period.
The industrials sector, which has 10 listed constituents, saw a 24.9% year-on-year surge in net profitability to QR11.85bn against a 228.74% surge the year-ago period. The sector contributed 30.06% to the overall net profitability of the listed entities during 9M-2022.
Within the industrials sector, the country’s underlying firms that have direct linkages with the hydrocarbons sectors saw their earnings growth weaken substantially.
The transport sector, which has three listed constituents, saw total net profits grow 18.67% year-on-year to QR2.16bn compared to 25.23% jump during the corresponding period of 2021. The sector's net profit constituted 5.48% to the total net profit of the listed companies during 9M-2022.
The realty segment, which has four listed entities, saw total net earnings jump 12.08% year-on-year to QR1.3bn during 9M-2022 against an 11.47% increase the year-ago period. The sector constituted 3.3% to the overall net profitability in the review period.
The banks and financial services sector, which has 12 listed entities, reported a 4.9% year-on-year jump in total net profit to QR19.89bn against a 15.42% expansion the comparable period of 2021. The sector contributed 50.46% to the total net profits of the listed companies in January-September 2022.
The telecom sector, which has two constituents, reported net profit of QR2.38bn, which was 6.04% of the total net profits during 9M-2022.
The insurance sector, which has six companies, registered a 79.08% annual plunge in net earnings to QR0.17bn, against 524.61% surge the year-ago period. The sector contributed 0.43% to the overall net profitability during the review period.
The proposed mandatory health insurance and the substantial expansion planned in the North Field are expected to augur well for the insurance sector in the future, according to reports.
The net earnings of the listed companies grew 19.29% year-on-year during January-September 2022 compared to 35.86% the previous year period, according to the data compiled by the Qatar Stock Exchange.
The 9M-2022 net profitability expansion was still in double digit owing to similar growth pattern in the consumer goods, industrials, transport and real estate sectors.
The banking and financial services and industrials sectors together contributed about 81% of the cumulative net profits during 9M-2022.
The consumer goods and services sector, which has 10 listed entities, saw a 25.78% year-on-year expansion in total net profit to QR1.65bn at the end of nine-month ended September 2022 against a huge 105.48% growth the previous-year period. The sector contributed 4.19% to the overall net profitability in the review period.
The industrials sector, which has 10 listed constituents, saw a 24.9% year-on-year surge in net profitability to QR11.85bn against a 228.74% surge the year-ago period. The sector contributed 30.06% to the overall net profitability of the listed entities during 9M-2022.
Within the industrials sector, the country’s underlying firms that have direct linkages with the hydrocarbons sectors saw their earnings growth weaken substantially.
The transport sector, which has three listed constituents, saw total net profits grow 18.67% year-on-year to QR2.16bn compared to 25.23% jump during the corresponding period of 2021. The sector's net profit constituted 5.48% to the total net profit of the listed companies during 9M-2022.
The realty segment, which has four listed entities, saw total net earnings jump 12.08% year-on-year to QR1.3bn during 9M-2022 against an 11.47% increase the year-ago period. The sector constituted 3.3% to the overall net profitability in the review period.
The banks and financial services sector, which has 12 listed entities, reported a 4.9% year-on-year jump in total net profit to QR19.89bn against a 15.42% expansion the comparable period of 2021. The sector contributed 50.46% to the total net profits of the listed companies in January-September 2022.
The telecom sector, which has two constituents, reported net profit of QR2.38bn, which was 6.04% of the total net profits during 9M-2022.
The insurance sector, which has six companies, registered a 79.08% annual plunge in net earnings to QR0.17bn, against 524.61% surge the year-ago period. The sector contributed 0.43% to the overall net profitability during the review period.
The proposed mandatory health insurance and the substantial expansion planned in the North Field are expected to augur well for the insurance sector in the future, according to reports.