Industries Qatar posts USD1.7b profit in 2014
05 Feb 2015
(MENAFN) Industries Qatar the holding entity of Qatar Petrochemicals, Qatar Fertilizer, Qatar Steel, and Qatar Fuel Additives ” stated net profit exceeded the targeted budget by 12%, reported the Gulf Time.
Revenues in 2014 were reinforced by the unveiling subsequent ramp-up of Qatar Steel’s EF-5 facility, and by a solid year average key petrochemical product prices, an IQ spokesman said.
“Second half earnings were also on par with the second half of 2013, clearly showing the group’s ability to generate robust profits and cash flow even during the difficult international market conditions experienced during the latter part of this year,” the spokesman said.
The stated revenue for the year ended Dec 31, 2014 was USD 1.7 billion, presenting a marginal increase of 2.5% over the earlier year.