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Regions :: Middle East

Industries Qatar Reports Flat Net Profit; Qafco-6 Due Onstream This Year

7:48 AM MDT | August 9, 2012 | Natasha Alperowicz

Industries Qatar (IQ; Doha) reported a slight rise in net profits for the second-quarter, ended June 30, 2012, to QR2.13 billion ($585.2 million), a 2.4% increase on the year-earlier period. IQ’s net profit in the first half of the year was QR4.04 billion, compared with QR4.17 billion in the same period last year.   Consolidated revenues were QR4.7billion, up 13% year-on-year (YOY), driven by the startup of Qafco-5, a major fertilizer project, and higher volumes in the steel segment. The petrochemical segment’s revenues reached...

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