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QG Medical Devices Q3 losses surge 63%

QG Medical Devices Q3 losses surge 63%
QG Medical Devices achieved losses of QAR 6.29 million in the first nine months of 2017
QG Medical Devices
QGMD
1.15% 1.31 0.01

Doha – Mubasher: Qatari German for Medical Devices reported a 62.8% year-on-year hike in losses for the third quarter of 2017.

Net loss reached QAR 1.97 million ($541,000) in Q3-17, versus QAR 1.21 million ($332,300) in Q3-16, according to the Qatar Stock Exchange (QSE).

The medical devices company’s losses increased 20.2% to QAR 6.29 million in the first nine months of 2017 from QAR 5.23 million in the prior-year period.

Loss per share amounted to QAR 0.55 in the nine-month period ended 30 September 2017, compared to QAR 0.45 in the year-ago period.

QG Medical Devices had previously posted a 7.5% rise in losses to QAR 4.32 million in the first half of 2017 from QAR 4.02 million in H1-16.