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FINANCIAL NEWS
Industries Qatar profit grows to USD2.3b in 2012
22 Feb 2013
(MENAFN) Industries Qatar (IQ) announced that its net profit grew from USD301 million in 2003 to USD2.30 billion in 2012, reported The Peninsula.
IQ, one of the region’s industrial giants with interests in the production, distribution and sale of a wide range of petrochemical, fertilizer and steel products, said that 2012 marked the completion of 10 years since it launched its IPO in 2003.
The company’s total assets in the period went up to USD11.03 billion, compared with USD2.38 billion in 2003.
It added that revenue in 2012 increased by 13 percent from 2011 to USD5.13 billion.
Meanwhile, petrochemical revenue gained 0.6 percent in 2012 to USD1.79 billion from USD1.78 billion a year before.
Furthermore, revenue of the fertilizer segment surged by 40 percent from 2011 to USD1.646 billion, whereas steel revenue rose to USD1.70 billion.
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