Doha – Mubasher: Qatar National Cement Company reported a 34.9% year-on-year drop in profits for the second quarter of 2017, according to a filing to the Qatar Stock Exchange (QSE) on Sunday.

The Qatar-listed firm achieved profits of QAR 83.3 million ($22.1 million) in Q2-17, compared to QAR 127.9 million ($33.9 million) in the corresponding period of the year before.

The company’s profits fell 31.5% reaching QAR 84.83 million in Q1-17 against QAR 123.79 million in Q1-16.

In the first half of 2017, the company posted a 33.2% retreat in profits reaching QAR 168.1 million against QAR 251.7 million in H1-16.

Earnings per share stood at QAR 2.57 in H1-17, compared to QAR 3.85 in the same period of 2016.