Mubasher: Qatar National Cement on Monday posted a 6% year-on-year drop in its profit for the second quarter of 2018 on the back of falling revenues.

Net profits amounted to QAR 78.26 million ($21.50 million) in Q2-18, compared to QAR 83.25 million ($22.87 million) in the same period of 2017, according to the company’s filing to the Qatar Stock Exchange (QSE).

For the first half of 2018, Qatar National Cement's profits inched up to QAR 168.52 million from QAR 168.09 million during H1-17.

Earnings per share (EPS) amounted to QAR 2.58 for the six-month period ended 30 June versus QAR 2.57 in the same period of the prior year.

Moreover, revenues retreated 21.9% to QAR 434.55 million between January and June, compared to QAR 556.75 million in the same period of 2017.

Qatar National Cement previously reported a 6.39% year-on-year profit growth to QAR 90.26 million in Q1-18.

By the end of Monday’s session, Qatar Cement’s stock rose 0.42% to QAR 57.95.