FINANCIAL NEWS

Industries Qatar profits hike 75% in Q1

13 Apr 2011

(MENAFN) Industries Qatar stated that the company had a 75 percent hike in net profits in the first quarter of 2011, quarter on quarter, reported Arabian Business.

The company said that net profit in the first quarter hit USD576.74 million, up from USD334 million reported in the same quarter of 2010.

The company said that revenues for the same quarter amounted to USD1.09 billion, while total value of the company’s assets amounted toUSD8.58 billion.

It is worth noting that Industries Qatar is the second largest chemical producer by market value in the Arabian region.

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