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Industries Qatar reports financial results for full 2017

by ChemOrbis Editorial Team -
  • 13/02/2018 (16:09)
According to a statement released by the company, Industries Qatar (IQ) posted a net profit of 3.3 billion riyals ($906 million) for the full year 2017, up 12% from the prior year. This upturn was mostly driven by stronger financial performance across the group due to improved revenues and reduced operating expenditure.

Meanwhile, the company’s net revenue remained almost flat on a yearly basis at 4.6 billion riyals ($1.3 billion). The company’s sales volumes also remained unchanged in 2017 amidst a number of unplanned shutdowns and muted demand in some markets.
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