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Qatar Industrial profits grow 24% in Q3

Qatar Industrial profits grow 24% in Q3
Net profits amounted to QAR 62.2 million in Q3-18
QIMC
QIMD
-1.14% 2.69 -0.03

Mubasher: Qatar Industrial Manufacturing Company (QIMC) on Thursday posted a 24.3% year-on-year increase in profits for the first quarter of 2018.

Net profits amounted to QAR 62.2 million in Q3-18, compared to QAR 50.1 million in Q3-17, according to the company’s statement to the Qatar Stock Exchange (QSE).

For the first nine months of 2018, QIMC’s profits grew 4.3% to QAR 170.5 million, from QAR 163.5 million in the same period of the prior year.

Earnings per share (EPS) reached QAR 3.59 during the period ended 30 September, versus QAR 3.44 in the same period the year before.

It is worth noting that QIMC’s profits plunged 4.5% year-on-year to QAR 108.3 million for the first half of 2018.

By the end of Thursday’s session, QIMC’s stock declined 0.81% at QAR 41.56.