FINANCIAL NEWS

Industries Qatar Q4 net profit at USD294m

03 Mar 2011

(MENAFN) The chemical producer Industries Qatar (IQ), stated that net profit in 2010 fourth quarter stood at USD412 million, up from USD294 million in the same quarter of the previous year, but numbers were still under forecasts of USD453 million, reported The National

IQ also stated that profit for the whole year of 2010 progits hit USD1.54 billion and it plans on giving dividends of USD1.5 per share, which is more than dividends given last year.

IQ had already revealed plans for acquiring credit rating in October to access debt markets, however, these plans may be delayed due to the political unrest in several areas in the Arab World.

It is worth noting that the petrochemical industry is among those that should be safe amid political unrest. However, political unrest could have a slight impact on the industry as it affects the whole of economies.

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