The aggregate earnings of Qatar’s 18 listed companies dropped 9 percent year-on-year to QR7.53bn for the second quarter of 2014.
The year-on-year (YoY) earnings decline was heavily driven by materials sector as Industries Qatar (IQ) has planned maintenance and shut-downs in key facilities of its petrochemicals and fertiliser segments, coupled with weak fertiliser prices on weak demand and strong supply from Middle East and China, an earnings review for Q2, 2014 released by Mubasher Trade Research noted yesterday.
Telecom services also contributed to the aggregate earnings drop. Financial sector reported 3 percent YoY higher earnings, just 1 percent ahead of consensus. Meanwhile, consumer companies reported 88 percent YoY higher earnings on 26 percent higher revenues.
Mubasher Financial Services is a leading provider of regional and international brokerage services for institutional and retail investors.© Copyright - Peninsula Qatar