Qatar Stock Exchange
Qatar Stock Exchange

Profits of companies listed on the Qatar Exchange by the end of the first quarter of this year decreased by 19% year on year to about 8.6 billion riyals.

The profits of four sectors decreased at the end of the first three months of this year, led by the real estate sector, whose companies profits decreased by 58% to 351 million riyals due to the impact of the low operating revenues and the revaluation.
 
The insurance sector recorded at the end of the first quarter losses worth 117 million as a result of losses incurred by the Qatar Insurance Group by about 185 million riyals, due to the impact of the decline in total investment and other income.

The banking and financial services sector rose marginally and by about 0.3%, due to the effect of allocations taken by all banks to face the risks of declining value of the loan and investment portfolios.

The transportation sector recorded a growth of 6.3%, supported by the increase in profits of the Gas Tankers Company by 18.3% to 279 million riyals.