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Qatar’s MPHC net profit hits USD110.5m in H1

06 Aug 2015

(MENAFN) Mesaieed Petrochemical Holding Company (MPHC), a subsidiary of Qatar Petroleum, has recorded a consolidated net profit of USD110.5 million for the half year of 2015.

Management reporting revenue for the first half was USD411.55 million, a decrease of USD174 million, or 29.9 percent, on the same period of 2014 when revenue stood at USD576.17 million.

The figure was mainly due to planned facility maintenance in the current period and weaker product prices following the significant fall in the global oil prices in Q4, 2014 that started to affect product prices.

MPHC closed the half year of 2015 with a consolidated net profit of USD110.5 million, a decrease of USD136.27 million, or 55.2 percent over the same period in 2014.

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