Industries Qatar posts 17.6% rise in Q2 profit

05 Aug 2010

(MENAFN) Doha-based petrochemicals and metals company Industries Qatar said that its second-quarter net profit has increased by 17.6 percent, Reuters reported.

The Gulf�s second-largest chemical producer by market value made a second-quarter net profit of $384.7 million, based on calculations using earlier financial data.

Industries Qatar posted a net profit of $714 million in the first half of the year, a company statement said.

Industries Qatar is one of the regional petrochemicals companies that have struggled through the global economic downturn, although market fundamentals have shown signs of recovery since late last year.

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