Industries Qatar reports QR3.54bn net profit in first half ...Qatar

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Industries Qatar reports QR3.54bn net profit in first half
Market heavyweight Industries Qatar (IQ) has reported about five-fold growth year-on-year in net profit to QR3.54bn in the half (H1) of this year, mainly due to a stronger consumer demand and rising oil prices. The group revenue shot up 69% year-on-year to QR9.2bn (assuming a proportionate consolidation). Earnings-per-share (EPS) amounted to QR0.58 in H1, 2021 against QR0.12 a year-ago period. Its Ebitda or earnings before interest, taxes, depreciation and amortisation almost tripled on a yearly basis to QR4.5bn in the review period. The blended product prices at the group level, increased by 35% compared to H1, 2020, translating into an increase of QR3.1bn in group’s net profits. The pr

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