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Qatar's largest company posts big Q3 profit rise

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Monday, 13 October 2008

Industries Qatar, the country's largest company by market value, almost doubled its third-quarter profit to 2.6 billion riyals ($714.7 million), compared to 1.35 billion in the year-earlier period.

Net income in the nine months to Sept 30 was 7.2 billion riyals compared to 3.4 billion in the same period of last year, the company said in a statement on the Doha bourse website.

Middle East Financial Brokerage had forecast Q3 net profit of 2.88 billion riyals. (Reuters)

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