Arecent report compiled by Mubasher Financial Services revealed that the combined earnings of 18 Qatari listed firms have declined by 9% y-o-y to QAR7.53 billion in Q2-FY14.
The earnings decline was heavily driven by materials sector as Industries Qatar (IQ) has planned maintenance and shut-downs in key facilities of its petrochemicals and fertilizer segments, coupled with weak fertilizers prices on weak demand and strong supply from Middle East and China.
Telecom services also contributed to the aggregate earnings drop, while financial sector reported 3% y-o-y higher earnings, just 1% percent ahead of consensus. Meanwhile, consumer companies reported 88% y-o-y higher earnings on 26% higher revenues.
The earnings decline was heavily driven by materials sector as Industries Qatar (IQ) has planned maintenance and shut-downs in key facilities of its petrochemicals and fertilizer segments, coupled with weak fertilizers prices on weak demand and strong supply from Middle East and China.
Telecom services also contributed to the aggregate earnings drop, while financial sector reported 3% y-o-y higher earnings, just 1% percent ahead of consensus. Meanwhile, consumer companies reported 88% y-o-y higher earnings on 26% higher revenues.
Source:
Mubasher
