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Posted On: 14 August 2011 07:16 am
Updated On: 12 November 2020 02:11 pm

31 Qatari Firms Report Net Profit Over 25% in H1

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Thirty-one firms out of the 42 listed on Qatar Exchange reported growth in net profit of more than 25% during the first half of 2011. The aggregate midterm net profit of these companies is QR 14,783,020,000 compared to QR 11, 824, 400,00 in the first half of 2010, an increase of QR 2,958,620,000. The industrial sector's growth in the net profit was the highest at 46.51% followed by banks and financial institutions with 24.58%. The insurance sector reported 2.52 while services were 2.39%. From the financial results announced by these companies, 27 out of the 31 noted growth in net profit this year compared to 2010 for the first half period ending June 30. Four companies reported a drop - Gulf International Services Sector by 43.72%, Qatar Navigation Services Sector by 38.66%, Qatar National Cement Industrial Sector by 16.55% and Al Khaleej Takaful Insurance by 11.32%. Gulf Warehousing Company and Al-Khaleeji Bank have separately scored a profit margin of up 309.46% and 122.32% respectively for the first half. Industries Qatar was up 63.11%, Qatar Oman Investment Company 60.38%, Qatar Electricity and Water Company 43.20.