By: Eman Ghaly

Mubasher: Profits of the 35 firms listed on the Qatar Stock Exchange (QSE) rose 16.07% year-on-year in the third quarter of 2018, supported by the growth of the banking sector.

The companies’ profits amounted to QAR 9.29 billion ($2.56 billion) in the three-month period ended September, up from QAR 8.01 billion ($2.20 billion) in Q3-17, according to a survey conducted by Mubasher.

It is worth noting that there are 45 companies are listed on the QSE, distributing over seven sectors, namely the banking, industrial, real estate, transportation, goods, insurance, and telecommunication sectors.

The banking sector acquired 66.8%, or QAR 6.2 billion, of the 35 firms’ third-quarter total profits, followed by the industrial sector with 20.8% recording QAR 1.9 billion and the real estate sector with QAR 409.7 million.

The industrial sector witnessed the highest growth, adding 25.3%, while the transportation sector was the lowest increase at 8.6%.

On the other hand, the financial sector was the bourse’s only decliner, as losses hiked 106.7% or QAR 17.6 million.

Nine-month results

The 35 companies registered a 13.74% year-on-year profit growth, generating QAR 28.13 billion during the nine-month period ended September.

The banking sector acquired the majority of profits with QAR 18.2 billion, followed by the industrial and real estate sectors with QAR 5.9 billion and QAR 1.5 billion, respectively.

Meanwhile, the telecommunication sector recorded the lowest amount of profits with QAR 75 million, while the financial services sector turned to loss with QAR 6.9 million.

Translated by: Kholoud Mohamed Hussein