31 firms report over 25% net profit growth in H1 of 2011

THIRTY-ONE firms out of the 42 listed on Qatar Exchange have reported a net profit growth of more than 25 percent during the first half of 2011.

The aggregate mid-term net profit of these companies amounted to QR14,783,020,000 compared to QR11,824,400,00 in the first half of 2010.

Leading the pack was industrial sector with a net profit growth of 46.51 percent followed by banks and financial institutions with 24.58 percent. The insurance sector reported a growth of 2.52 percent while services 2.39 percent. From the financial results announced by these companies, 27 out of 31 witnessed a rise in net profit in the first of half of this year compared to 2010.

While Gulf International Services Sector profit dropped by 43.72 percent, Qatar Navigation Services Sector by 38.66 percent, Qatar National Cement Industrial Sector by 16.55 percent and Al Khaleej Takaful Insurance by 11.32 percent.

Gulf Warehousing Company and Al-Khaleeji Bank profit profit margins rose 309.46 percent and 122.32 percent respectively.