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Qatar Electricity and Water Q2 profit falls 9%

Qatar Electricity and Water Q2 profit falls 9%
QEWC's EPS grew to QAR 7.39 for the six-month period ended June
Electricity & Water
QEWS
-1.07% 18.52 -0.20

Mubasher: Qatar Electricity and Water Company (QEWS) on Thursday reported a 9.1% year-on-year drop in its profit for the second quarter of 2018.

Net profits amounted to QAR 419 million ($115.6 million) in Q2-18, compared to QAR 461 million ($127.2 million) during Q2-17, according to a filing to the Qatar Stock Exchange (QSE).

As for the first six months of 2018, net profits of the Qatar-based company inched up 0.25% to QAR 813 million, from QAR 811 million in H1-17.

Earnings per share (EPS) grew to QAR 7.39 for the six-month period ended June, versus QAR 7.37 in the same period of the prior year.

It is worth noting that QEWS's profits jumped 12.6% year-on-year to QAR 394 million in Q1-18.

By 09:30 am Qatar time, QEWS's stock declined 1.01% at QAR 187.