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People & Business :: Earnings/Finance
Industries Qatar reports lower profit, Al Sejeel project on track for end 2018 completion
8:37 AM MDT | April 28, 2014 | Natasha Alperowicz
Industries Qatar (IQ; Doha), which combines several petrochemical, fertilizer, and steel operations, reports a 1.6-billion Qatari riyal ($439.6 million) first-quarter net profit, QR1 billion down on the year-earlier quarter. IQ cites extensive, planned maintenance shutdowns across all segments for the drop. “The muted year-on-year financial results can be primarily attributed to reduced sales volumes following extensive planned preventive maintenance and warranty shutdowns in the majority of the group’s key facilities and tightened operating...
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