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FINANCIAL NEWS
Industries Qatar posts QR1.6bn net profit in H1
09 Aug 2017
(MENAFN) Industries Qatar has recorded a net profit of QR1.6bn in the Jan-June period of this year, down by 19 percent compared to the same period of 2016.
Meanwhile, the group’s fiscal position remains solid as cash amid the group hits QR10.2bn after paying last year’s dividend of QR2.4bn.
Furthermore, revenue reported under IFRS 11 for the period ended June 30, 2017 was QR2bn, a fall of 17 percent, over the same period of 2016.
The year on year change was due to a modest reduction in the sales volumes driven by a decline in production of polyethylene and fertilizers.
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