By: Aml Hosny

Doha – Mubasher: The profits of nine Qatar-listed companies in the services sector dropped 22.05% in the first quarter of 2017, compared to Q1-16.

Profits amounted to QAR 418.27 million ($114.76 million) in Q1-17, compared to QAR 536.57 million ($147.22 million) in Q1-16, according to a filing to the Qatar Stock Exchange (QSE).

Qatari German for Medical Devices incurred losses of QAR 2.21 million and QAR 2.05 million in Q1-17 and Q1-16, respectively.

Qatar Fuel (Woqod) achieved profits of QAR 176.46 million in Q1-17, compared to QAR 242.96 million in the same period in the year before, showing a drop of 27.37%.

Medicare Group’s profits grew 26.48% year-on-year to QAR 17.87 million in Q1-17, while Widam Food Company profits increased 16.02% to QAR 22.95 million in the same quarter.

Salam International Investment’s profits retreated 36.53% to reach QAR 20.39 million in Q1-17, compared to QAR 32.12 million in the corresponding quarter in 2016.

On a year-on-year basis, Qatar Cinema and Film Distribution Company profits fell 13.66% to QAR 2.95 million in Q1-17, compared to QAR 3.42 million.

Zad Holding Company’s profits went down 4.69% to QAR 49.25 million in Q1-17, compared to QAR 51.67 million in Q1-16.

Mannai Corporation’s profits amounted to QAR 90.09 million in Q1-17, compared to QAR 125.12 million in Q1-16, showing a 28% decrease.

Al Meera Consumer Goods Company’s profits levelled down 17.99% to reach QAR 40.52 million in Q1-17, compared to QAR 49.40 million in the same period in the year earlier.

Translated by: Mohamed Hesham Azab