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Industries Qatar’s net profit down 19% y-o-y in H1

by ChemOrbis Editorial Team -
  • 04/08/2016 (17:44)
According to a statement released by the company, Industries Qatar’s net profit fell 19% to QAR2 billion ($549.2 million) in the first half of the year compared with the same period of 2015. The company cited lower revenues resulting from the notable price deflation across all operating segments, most notably in the fertilizer segment, as the main reason for their weak financial results.

In the second quarter, however, the company’s net profit climbed to QAR1.3 billion ($356.9 million), up QAR600 million in the first quarter on the back of improved sales volumes, higher PE prices and lower operating costs. Industries Qatar also reported that improved market dynamics and higher PE production improved the company’s sales.
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