Qatari companies continued to achieve profits in the first six months of 2011, where a total of 41 companies listed on Qatar Exchange reported a net profit of 17.9 billion riyals in the first half, compared to a net profit of 15.3 billion riyals achieved for the same period last year, a growth of 16.9 per cent, which reflects the strength and rigidity enjoyed by the country’s economy.
The listed companies reported a net profit of 8.9 billion riyals in the second quarter of 2011 compared to 7.3 billion riyals in the same period last year, an increase of 21.6 per cent. However, on a quarter on quarter basis, net profit of Qatari stocks declined marginally by 1 per cent in the second quarter of 2011, compared to the first quarter.
During the previous periods, several Qatari companies reported exceptional non-recurring income, couple of mergers forming bigger entities, as well as the delisting of three companies.
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