Industries Qatar Q2 Profit Hits $587m

Industries Qatar, the Gulf’s second-largest petrochemicals firm, posted a slight rise in second quarter profits on Wednesday, falling in line with analyst estimates.

The Qatari firm had net profit of 2.14 billion riyals ($587 million) for the quarter ended June 30, according to Reuters calculations based on financial statements. That compared with profit of 2.08 billion riyals a year earlier.

Analysts forecast average profit of 2.09 billion riyals, in a Reuters poll.

The company said it had first-half net profit of 4.04 billion riyals, down slightly from 4.17 billion in the same period last year.

Reuters