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FINANCIAL NEWS
Industries Qatar quarterly profits decline 14%
15 Apr 2010
profit to $332 million from a year earlier, despite its strong operating income, QNA reported.
The company’s revenue jumped by 22 percent to $727.5 million, whereas direct costs were brought down by 5 percent to $387.1 million, resulting in a 79 percent surge in gross profit to $343 million.
Operating profit expanded 95 percent to $299 million although selling expenses were up 32 percent to $9.93 million and general and administrative costs by 7 percent to $34.07 million.
It is worth mentioning that Qatar Industries is the holding entity for Qatar Petrochemicals, Qatar Steel, Qatar Fuel Additives and Qatar Fertilizer.
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