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FINANCIAL NEWS
Industries Qatar’s Q3 profit hits USD703.2m
14 Oct 2012
(MENAFN) Industries Qatar (IQ) reported a 23.7 percent increase in quarterly profits on higher petrochemicals prices, Reuters reported.
According to Reuters calculations, the GCC’s second largest chemicals producer after Saudi Basic Industries Co (SABIC), earned USD703.2 million net profit during the third quarter, up from USD568.2 million a year earlier.
The company did not provide third-quarter numbers in a bourse statement. Reuters calculated the profit figure for the third quarter from past financial statements.
For the nine months ended in September, IQ made USD1.8 billion net profit, compared to USD1.7 billion a year ago.
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