Industries Qatar makes Q3 net profit of QR 6.6 billion

Industries Qatar made a net profit of QR 6.6 Billion in the nine-month period ending September 30, 2012 compared with QR 6.2 Billion in the corresponding period last year. The Earnings per Share (EPS) was QR 12.10 for the period ended September 30, 2012 compared with QR 11.35 for the corresponding period in 2011, a Qatar Exchange (QE) bulletin said quoting IQ's interim financial statement for the period ending September 30. The financial results announced by IQ (QE: IQCD) at the end of September 30th amount to a 23.7% increase in third-quarter net profit, according to a private analyst report which said the result surpasses "average analysts' forecasts". The IQ made a net profit of QR 2.56 Billion in the Q3 compared with QR 2.07 Billion in 2011, the private analyst added. Earlier this year, at the end of June 30, the company had posted its highest ever first half revenue of QR 9.1 Billion and net profit of QR 4.0 Billion. Incorporated in 2003, IQ Group companies comprise Qatar Petrochemicals Company (QAPCO), Qatar Fertiliser Company (QAFCO), Qatar Steel, Qatar Fuel Additives Company (QAFAC). IQ is one of the region's major industrial companies producing, distributing and selling a range of petrochemical, fertiliser and steel products in international markets. (QNA)