DOHA: The Banks and Financial Services institutions listed on Qatar bourse delivered a combined net profit of QR13.15bn for the first nine months of 2013 compared with QR12.5bn for the same period in 2012.
The Industrial sector recorded a collective profit of QR8.93bn during 9M2013 versus QR8.97bn recorded during the corresponding period in 2012, a preliminary assessment by analysts noted.
The three listed companies under the Transportation sector together recorded QR1.40bn. The combined net profit of the sector during 9M2012 was QR1.25bn. The four real estate companies jointly delivered a total profit of QR1.69bn against QR1.46bn reported during the same period in 2012.
The combined profit of Insurance companies rose to QR1.41bn from QR636m. The eight companies listed under Consumer Goods & Services delivered a combined profit of QR1.33bn against QR1.21bn recorded in 2012.
Five companies under the Banking and Financial Services sector witnessed a drop in their net profits this time, ranging from 13 percent to 61 percent down.
The Industries and Transportation sectors saw one company each dropping their profits on year-on-year basis.
The net profits of all four real estate companies, except one, were up during the first nine months period. Ezdan Real Estate Company recorded an impressive 175 percent growth in its net profit on year-on-year.
While the net profits of three Insurance companies were up, two companies recorded drop in their profits. The Qatar General Insurance & Reinsurance Company’s net profit grew at a stunning rate of 949.58 percent year-on-year.
Of the total eight listed companies under Consumer Goods & Services sector, the net profits of two companies dropped. Qatar Fuel recorded maximum profit on year-on-year, 18.43 percent.
The Peninsula
