QATAR Stock Exchange listed companies have delivered remarkable performance in the first quarter of current year. According to the figures released by the Qatar Stock Exchange recently, the combined net profits of companies listed on QSE have reached QR10.92bn for the first quarter of 2021, showing a growth of 30.74 percent compared to the same quarter in the last year.
Despite testing environment, Qatari companies have managed to deliver profits by optimising their operating cost and taking other prudent measures. The strong results by the companies listed on the stock exchange are results of proactive measures taken by the government and capital market regulators to promote growth of companies, especially smaller companies.
Strong results of the companies have also boosted investors’ sentiments. Encouraged by the positive first quarter results, the QE Index has surged around 5 percent or 510 points in April and reached very close to 11,000 mark. Qatar Stock Exchange index dropped 1.14 points, or 0.01 percent, to close at 10,895.72 points yesterday. Of the total 48 listed companies listed on Qatar Stock Exchange, 13 firms fall in the Banks & Financial Institutions sector.
The companies had also delivered solid performance in 2020, uncertainty and challenges created by the coronavirus outbreak. The combined net profits of companies listed on Qatar Stock Exchange reached QR31.62bn for the year 2020. The Qatar Financial Markets Authority and Qatar Stock Exchange have taken many initiative in the past to develop and promote capital market.
One such initiative was trading platform for SMEs. The Qatar Stock Exchange had recently launched the QE Venture Market (QEVM), which provides a listing and trading platform for Small and Medium Enterprises (SME’s) that do not fulfil listing requirement of the main market. The QEVM provides an alternative route to market for the SME’s who need the access to capital that being listed entails.
The QEVM has given SME owners an opportunity to be listed in the bourse in accordance with lighter and flexible regulations, while giving further finance sources in order for them to grow and expand their businesses
The launch of the new market is the result of the strategic initiatives and intense efforts made by the QSE over the past years to develop Qatar’s capital market through continuous consultations with private and family-owned companies to identify their needs and offer them suitable solutions and incentives for listing in the market.
The measures taken by the government and regulators will ensure that country’s capital market will continue grow strong in future.
