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The Qatar Electricity and Water Company (QEWC) posted a net profit of 24% in the first half of this year, driven by deteriorating economic indicators after the Arab boycott of its third year.
Earnings per share for the first six months of this year was 0.56 riyals, compared to 0.74 riyals for the same period of 2018.
Qatar Electricity & Water announces its financial results for the first half of this year, following the meeting of the Company's Board of Directors and its approval of the audited financial results for the period.
The company's sales dropped to 143 billion riyals, compared to 1.3 billion riyals in the same period in 2018.
In the first quarter of 2019, KAHRAMAA lost more than 20% of its profits compared to the corresponding period of 2018 due to a sharp decline in its operations and indicators in its annual report.
The value of the company's long-term badets declined 2.4% in the first quarter of 2019 to stand at 12.974 billion riyals ($ 3,566 billion), while short-term badets decreased from 12.28 percent to 4.24 billion ryals ($ 1.165 billion).
The profits of many companies on the Doha Stock Exchange have fallen sharply, resulting in a loss of investor confidence in the market and the exit of many of them.
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