Industries Qatar Q3 profit drops 1.6 pct, meets forecasts

24/10/2017 10:03 AST

Petrochemicals, metals and fertiliser producer Industries Qatar posted a 1.6 percent drop in third-quarter net profit, according to Reuters calculations, in line with forecasts, as sales fell and performance was hurt by weak fertiliser prices and tightened operating margins.

The Middle East's second-biggest petrochemicals company said its operational and financial outlook was expected to improve further with efforts to controls costs.

It reported on Monday a net profit of 747.8 million riyals ($198.6 million) in the three months ending Sept. 30, Reuters calculated based on nine-month financial statements in lieu of a quarterly breakdown.

This compares with the 759.8 million riyals it posted in the corresponding period of last year, while the average forecast of three analysts polled by Reuters was for a quarterly net profit of 730.8 million riyals. Industries Qatar did not say whether the results had been affected by economic sanctions imposed by other Arab states on June 5, when Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic and transport ties with Qatar, accusing it of backing terrorism, a charge Doha denies.

Since June, Qatar has arranged new shipping routes to minimise the impact of the rift on imports and exports.


Reuters

News

IQ set to increase foreign ownership limit to 49%

14/03/2018

Market heavyweight Industries Qatar (IQ) has announced the increase of foreign ownership limit (FOL) to 49% from 25%, a move that will enthuse foreign funds to enhance their exposure in the country’s

Gulf Times

Industries Qatar to expand operations

05/03/2018

Industries Qatar (IQ) is working to expand its operations and production capacities aiming to maintain and improve the competitiveness of its products in the local, regional and global markets, Saad

The Peninsula

Industries Qatar net profit grows almost 12% to QR3.3bn

13/02/2018

Industries Qatar (IQ), one of the region’s industrial giants with interests in the production of a wide range of petrochemical, fertilizer and steel products, reported a net profit of QR3.3bn and ear

The Peninsula

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941
SAMBA 26.98 1,138,683

Valuation

IQCD Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
QEWS 186.60 -1.50 (-0.80%)
MPHC 15.10 -0.17 (-1.12%)
AGLTY 825.00 -10.00 (-1.20%)
ALBH 0.56 0.00 (0.00%)
AHCS 9.70 -0.01 (-0.11%)

Recent News

SABIC-MCC joint venture starts output

05/04/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

Doha Bank’s third Indian branch opens today

04/04/2018

Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o

The Peninsula

SHUAA to act as liquidity provider to Bank of Sharjah

04/04/2018

Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than

Gulf News

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap