Enhanced earnings, especially from the insurance, real estate and consumer goods sectors, helped the Qatar Exchange-listed companies display a robust net profitability in 2013. The buoyancy is slated to give further impetus to this year's profitability as many multibillion dollar projects (announced as well as in the pipeline) are expected to encourage the private sector in a big way.
The bourse witnessed 12 of its listed companies report more than QR1bn net profit in 2013 compared to 10 in the previous year.
The 41 listed companies have reported about 12% jump in their cumulative net profits against a more than 1% fall in 2012. The stock market, overall, gained 24.7% year-to-date (YTD) as on December 31, 2013.
The cumulative net profits stood at QR41.81bn in 2013 compared to QR37.5bn a year ago.
Vodafone Qatar follows the April-March format, while others follow the January-December system. Mesaieed Petrochemical Holding Company had disclosed results only for the last four months of 2013.
However, the industrial as well as banking sectors' net profitability was lesser compared to the previous year.
The insurance sector, which has five constituents, saw the net profit more than triple to QR3.09bn compared to a 5% growth in 2012. Its share in cumulative net profit was 7.39% (against 2.61% a year ago). Its index surged 18.89% YTD in December 31, 2013.
The realty segment, which has four listed firms, witnessed a 32% surge in net profit to QR2.9bn compared to a 57% plunge in 2012. Its net profit constituted 6.94% of the overall cumulative net profit in 2013 (5.84%). The real estate index gained 21.18% YTD on December 31, 2013.
The consumer goods and services sector, which has eight listed entities, recorded a 13% expansion in net profit to QR1.8bn against a 4% fall in the previous year. Its share in overall net profit was 4.31% (4.24%). The group index rose 27.35% YTD on December, 31, 2013.
The transport sector, which has three listed firms, recorded a 6% gain in net profit to QR1.78bn compared to 5% in 2012. Its share in overall net profit was 4.26% (4.51%). However, the sector was the best performer on the bourse with its index gaining 38.65% YTD in December 31, 2013.
The industrials sector, which has nine listed constituents, reported a 3% rise in net profit to QR12.49bn in 2013 against 10% a year ago. Its share in total cumulative net profit stood at 29.87% (32.32%). The index soared 33.23% YTD on December 31, 2013.
The banks and financial services segment, which has 12 listed entities, reported a 7% rise in net profit to QR17.38bn compared to a similar growth in 2012. Its share in total net profit was 41.57% (43.47%). The index gained 25.36 YTD in December 31, 2013.
The telecom sector (with a lone entity for the review period) saw net profit fall 12% to QR2.58bn against a 13% growth in 2012. Its share in cumulative net profit stood at 6.17% (7.87%). The sector index had soared 36.51% YTD in December 2013.
© Gulf Times 2014
