Qatar Investors Group’s earnings rise 25% in Q2 of 2023

Qatar Investors Group (QIG) reported on Wednesday its net profits that increased by 25.3 percent year-on-year in the second quarter of 2023 increased to reach 47 million riyals with support from non-operating revenue.

In the first half of this year, the company’s profits – which operate in several sectors, notably the cement industry – fell by 15 percent compared to the corresponding period last year to 101.6 million riyals.

The company’s quarterly profit was affected by a 31 percent decline in revenue to 267.7 million riyals, 67 percent decline in investment revenue to 1.8 million riyals, and a four percent rise in general and administrative expenses to 51.3 million riyals.