Industries Qatar reports record full-year profits, transfers marketing activities to new firm

Industries Qatar (IQ; Doha), one of the largest regional players controlling petrochemical, fertilizer, and steel manufacturing subsidiaries in Qatar, reported record full-year 2012 net profit of 8.4 billion Qatari rials ($2.3 billion) on QR18.7 billion in revenues. Steel accounted for 33% of IQ’s 2012 sales, followed by fertilizers at 32%, petrochemicals' 26%, and fuel additives' 9%. Fertilizers recorded a 40% increase in revenues; but petrochemicals and fuel additives were flat compared with the preceding year.   “The close of the...

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