By: Mohamad Farouk

Doha – Mubasher: The financial statements of the industrial companies listed on Qatar Stock Exchange (QSE) showed a decline of 34% in the third quarter of 2016 as compared to the same period a year ago.

Profits of the industrial sector amounted to QAR 1.814 billion ($497.75 million) in Q3-16 as compared to QAR 2.765 billion ($758.7 million) in Q3-15.

During the nine-month period, the eight industrial listed firms posted a fall of 21% to QAR 6.051 billion ($1.66 million) when compared with QAR 7.654 billion ($2.1 billion) in the corresponding period of 2015.

Industries Qatar reported the largest profit of QAR 759.77 million and QAR 2.725 billion in Q3 and the nine months respectively.

Meanwhile, Gulf International Services posted the lowest earnings of QAR 28.36 million in Q3, while Qatar Industrial Manufacturing Co registered the lowest earnings in nine months that are worth QAR 163.1 million.

Qatar Industrial Manufacturing posted the highest profit growth rate in Q3 and nine months by 30.3% and 20.8% respectively.

Gulf International Services posted the largest drop rate in profits during the quarterly period and the nine months by 87% and 77% respectively.

Translated by: Ingy ElSafy