By: Eman Ghaly
Mubasher: The financial statements of the transportation companies listed on the Qatar Stock Exchange (QSE) showed a growth of 7% year-on-year in profits during the second quarter of 2018, according to Mubasher’s statistics.
The transportation sector’s profits amounted to QAR 324.13 million ($89.04 million) in Q2-18, up from QAR 303.02 million ($83.24 million) in Q2-17.
The transportation sector consists of three companies, namely Gulf Warehousing Company (GWCS), Qatar Gas Transport (Nakilat) and Qatar Navigation (QNNS).
First half
For the first half of 2018, net profits of the transportation sector witnessed a 9.8% year-on-year growth, recording QAR 857.32 billion from QAR 781.15 billion.
The survey attributed the first-half profit jump to the increase in the operating profits of the three listed companies by 8.9% to QAR 3.68 billion in H1-18, versus QAR 3.38 billion in the same period a year earlier.
Assets
Assets of the QSE-listed transportation firms declined by 2.3% to QAR 51.27 billion during the period between January and June, from QAR 52.50 billion in H1-17.
Translated by: Kholoud Mohamed Hussein
