QG Medical’s losses fall 44.2% in Q3

QG Medical’s losses fall 44.2% in Q3

Qatari German for Medical Devices (QG Medical) reported a 44.2% year-on-year drop in losses for the third quarter of 2018.

Net losses amounted to QAR 1.1 million in Q3-18, compared to QAR 1.9 million in Q3-17, according to the company’s statement to the Qatar Stock Exchange (QSE) late Sunday.

Losses per Share (LPS) reached QAR 0.48 for the three-month period ended September, from QAR 0.55 for the same period of the previous year.

For the first nine months of 2018, Barwa’s losses retreated 12.7% to QAR 5.5 million, versus 6.3 million in the same period the year before.

The company’s revenues plunged 12% year-on-year to QAR 8.3 million by the end of September.

It is worth noting that the company’s losses rose 1.9% to QAR 4.4 million in the first six months of 2018, compared to QAR 4.32 million in H1-17.

By 10:06 am Qatar time, QG Medical’s stock went down 1.64% at QAR 4.77.

-Mubasher