By: Waleed AbdelSalam

Doha – Mubasher: Total profits of the industrial sector of the Qatar Stock Exchange (QSE) declined in the first half of the fiscal year 2016 by 7.8% to QAR 4.7 billion ($1.2 billion), versus QAR 5.1 billion ($1.4 billion) for the same period of 2015.

Three companies suffered a fall in their profits for H1-16, while six others posted a growth in their earnings for the period.

Industries Qatar recorded the highest net profit of QAR 1.96 billion for H1-16, 18.9% down from QAR 2.4 billion for H-15.

Meanwhile, Qatar Industrial Manufacturing Company posted the lowest profits of QAR 113.8 million for Q1-16, rising 33% compared to QAR 85.4 million for H1-15; the highest growth rate during the six-month period.

Qatar National Cement Company made the lowest growth of 3.7% in its profits for H1-16 to QAR 251.6 million, versus QAR 242.6 million for Q1-15.

Gulf International Services reported the biggest fall in profits for the period as earnings declined by 73.64% to QAR 160.7 million from QAR 605.4 million for H1-15.

Translated by: Elwy el-Manzalawy