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Qatar’s QEWC posts 4.4 percent drop in Q2 profit

16 Jul 2014

(MENAFN) Qatar Electricity and Water Co (QEWC), the Gulf state’s monopoly utility firm, posted a 4.4 percent drop in its net profit in the second quarter, according to Arabian Business.

The state-run utility’s profit was estimated at USD115 million in the quarter compared to USD119.66 million in the prior-year period.

Three analysts polled by Reuters had forecast QEWC would make a quarterly profit of USD116.0 million.

The firm’s profit for the first half of the current year boosted to USD196.51 million compared to USD174.83 million a year earlier. Revenue figures were not announced.

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