Industries Qatar’s net profit down 21% in 2014
The company’s quarterly net profit was reported at QAR1.60 billion ($440 million) for the October -December period when compared to QR1.67 billion a year earlier, falling below initial estimates from Reuters analysts, which called for a net profit of QAR1.62 billion.
For the petrochemicals segment, the company’s revenue retreated 6.8% on a yearly basis to QAR6.8 billion ($1.86 billion) in 2014 while for the last quarter of 2014, the company reported revenue of QAR 1.8 billion, down 9.2% from the previous quarter. The quarterly decrease was attributed to moderate price deflation across key products resulting from a slump in global crude oil prices.
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