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Satyendra Pathak
Doha
In a clear demonstration of Qatar's robust economic growth, a number of companies listed on Qatar Stock Exchange (QSE) posted impressive financial results in the fist nine months of the current financial year on Wednesday.
A leading name in Qatar's banking sector, Doha Bank also announced a net profit of QR737.5 million in the first nine months of the year over the same period last year.
United Development Company (UDC), a leading Qatari shareholding company and master developer of The Pearl-Qatar, reported a net profit of QR416 million on revenues of QR1.29 billion in the first nine months of the year. The company's net profit attributable to equity shareholders stood at QR385 million and basic earnings per share at QR1.09.
Qatar Electricity & Water Company (QEWC) reported a net profit of QR1.15 billion for the first nine months of the year. The company's earnings per share amounted to QR10.51 for the nine-month period.
Widam Food Company disclosed that it earned a net profit of QR79.65 million in the first nine months of the year. The earnings per share (EPS) of the company amounted to QR4.42 for the same period.
Qatar National Cement Company, which also disclosed its financial results on Wednesday, announced that it registered net profit of QR218.8 million in the first nine months.
Qatar Islamic Bank (QIB), Qatar's largest sharia-compliant lender by assets, announced that its net profit rose 13 percent to QR2 billion in the first nine months.
In yet another confirmation of Qatar's positive economic outlook, the QSE 20 benchmark index also made huge gains for the second consecutive day. After rising a whopping 197 points on Tuesday, Qatar's main index added 126 points to close at 10,157 on Wednesday.
Industries Qatar was up 2.9 percent and Qatar Islamic Bank added 1.8 percent after its net profit for the first nine months of this year increased.
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18/10/2018
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