FINANCIAL NEWS

Qatar’s MPHC posts QR468.6mn profit in H1

07 Aug 2017

(MENAFN) Mesaieed Petrochemical Holding Co., a subsidiary of Qatar Petroleum received a net profit of QR486.6mn for the Jan-June period of this year.

The firm’s earnings per share reached QR0.37 and profit fell marginally by 4 percent from a year ago, while reduced sales volumes on periodic turnaround are offset by the increase in selling prices.

In addition, the group’s profit for the period was supported by recognition of a tax refund of almost QR42.8mn for the period.

Meanwhile, it continued to benefit from the supply of competitively priced ethane feedstock and fuel gas under long-term supply deals.

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