The Qatar Stock Exchange-listed firms cumulatively reported net profit of QR29.46bn in the first nine months (9M) of this year, mainly contributed by the banking and industrials sectors.
Although the overall net profitability was down more than 5% year-on-year (y-o-y), certain sectors such as telecom bucked the trend with a strong double-digit expansion in net earnings and the real estate sector saw slowdown in their decline in profitability, according to figures released by
the QSE.
The cumulative net profitability had, however, reported about 7% expansion y-o-y in the corresponding period of 2018.
During 9M 2019, the maximum drag in earnings came from the industrials sector, which saw eight of its entities register decline in net profits.
The industrials sector, which has 10 listed constituents, witnessed a huge 39.66% y-o-y plunge in net profitability to QR4.21bn against 27.41% increase in the year-ago period. The sector contributed 14.29% to the overall net profitability of the listed entities in the review period.
The banks and financial services sector, which has 13 listed constituents, reported 6.54% y-o-y rise in cumulative net profit to QR18.94bn against 8.1% growth in the comparable period of 2018. The sector contributed 64.29% in the overall net profitability during January-September 2019.
The consumer goods sector, which has nine listed entities, witnessed a 5.15% y-o-y decline in cumulative net profit to QR1.33bn at the end of September 30 compared to a 6.84% expansion in the previous year period. The sector contributed 4.51% to the overall net profitability in the review period.
The insurance sector, which has five listed companies, reported a marginal 0.52% y-o-y fall in cumulative net profit to QR0.62bn in 9M, 2019 compared to a 41.59% surge in the previous-year period. The sector contributed 2.1% to the overall net profitability.
The transport sector, which has three listed companies, recorded an 8.54% y-o-y growth in cumulative net profit to QR1.33bn in the first nine months of 2019 compared to a 9.28% rise in the corresponding period of 2018. The sector contributed 4.51% to the overall net profitability in January-September 2019.
The realty segment, which has four listed entities, saw a 14.88% y-o-y contraction in net earnings to QR1.65bn during 9M 2019 against a 36.71% decline in the year-ago period. The sector constituted 5.6% of the overall net profitability in the review period.
The telecom sector saw its net profit grow 17.55% to QR1.37bn in January-September 2019. The sector contributed 4.65% to overall net profit in the review period.
from Gulf Times https://ift.tt/33eqyDj
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