Mubasher: Mesaieed Petrochemical Holding on Monday posted a 7.1% year-on-year profit increase for the third quarter of 2018.

Net profits amounted to QAR 361.4 million in Q3-18, compared to QAR 337.3 million in Q3-17, according to a filing to the Qatar Stock Exchange (QSE).

For the first nine months of 2018, Mesaieed’s profits hiked 27.5% to QAR 1.03 billion, from QAR 805.9 million for the same period of the prior year.

Earnings per share (EPS) reached QAR 0.82 for the three-month period ended September, from QAR 0.64 in the same period the year before.

The closing cash position after the first nine months of operations stood at QAR 1.5 billion, while total assets at 30 September amounted to QAR 14.9 billion.

It is worth noting that the group achieved a net profit of QAR 666.46 million during the first half of 2018 compared to approximately QAR 468.58 in the same period a year ago.

By the end of Monday’s session, Mesaieed’s stock plunged 1.51% at QAR 16.96.