Industries Qatar Q1 Net Profit Falls 40% - Gulf Business
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Industries Qatar Q1 Net Profit Falls 40%

Industries Qatar Q1 Net Profit Falls 40%

The company reported a net profit of QAR951 million ($261.2 million) in the first quarter of 2015.

Petrochemicals and metals company Industries Qatar (IQ) posted a 40 per cent drop in first-quarter net profit on Monday, missing analysts’ forecasts.

The Middle East’s second-biggest petrochemicals company by market value, behind Saudi Basic Industries (SABIC), reported a net profit of QAR951 million ($261.2 million) for the three months ending March 31, down from QAR1.58 billion a year earlier.

Five analysts polled by Reuters on average forecast IQ would make a quarterly net profit of QAR1.11 billion.

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