Industries Qatar announces financial results for Q4
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, petrochemicals, metals and fertiliser producer Industries Qatar (IQ) posted a net profit of 230 million riyals ($61.3 million) in Q4, down 63% from the same period of last year and fell below the analysts’ expectations which called for a profit of $902.7 million riyals ($240.7 million). The company had announced earnings of 614.5 million riyals ($163.8 million) in the same period of last year.
The company recorded an annual profit of 2.96 billion riyal ($79 million) in 2016, down from 4.47 billion riyal ($1.19 billion) in 2015.
The company did not make any comments about the reasons for the fall. However, its financial results have close connections with oil prices and global economic growth, the reports revealed.
The company recorded an annual profit of 2.96 billion riyal ($79 million) in 2016, down from 4.47 billion riyal ($1.19 billion) in 2015.
The company did not make any comments about the reasons for the fall. However, its financial results have close connections with oil prices and global economic growth, the reports revealed.
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