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Industries Qatar announces financial results for Q1

by ChemOrbis Editorial Team -
  • 26/04/2017 (10:31)
According to a release on the company’s website, petrochemicals, metals and fertiliser producer Industries Qatar (IQ) posted a net profit of QAR928 million ($255 million) in Q1, up 33% from the same period of last year. The company had announced earnings of QAR697 million ($191 million) in the same period of last year.

The company attributed the annual rise in its profit in Q1 to a recovery in the product prices while the increase on a quarter-on-quarter basis was driven by the absence of one-off expenses in Q1 when compared to Q4 of 2016.

The company had announced a fall of 63% in its net profit in the previous quarter.
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