Mesaieed Petrochemical Holding Company , a subsidiary of Qatar Petroleum and one of the region’s premier diversified petrochemical conglomerates with interests in the production, distribution and sale of olefins, polyolefins, alpha olefins and chlor-alkali products, announced its financial results for the period ended September 30, 2014 with a net profit of QAR1.4 billion.

MPHC closed the nine months period ended September 30, 2014 with net profit of QAR1.4 billion with the liquidity position across the group remaining strong at QAR2.2 billion.

The third quarter net profit was QAR477.5 million, an increase of QAR41.8 million versus the second quarter representing an increase of 9.6%.

The group continued to maintain strong EBITDA margins which were aided by resilient key product prices, supply of competitively priced ethane feedstock and fuel gas under long-term supply agreements with Qatar Petroleum and the recognition of a tax refund from the Public Revenues and Tax Department. Cash across all group companies as at September 30, 2014 remained at QAR2.2 billion indicating the group’s strong cash position. The utilisation rates during the third quarter remained strong.

The main activity of MPHC is to act as a holding company. The group consists of six companies, with three of them directly held: MPHC holds 49.0% of the issued share capital of each of Qatar Chemical Company Limited and Qatar Chemical Company II Limited , and 55.2% of the issued share capital of Qatar Vinyl Company Limited .

Both Q-Chem and Q-Chem II each have a single, wholly-owned subsidiary, while Q-Chem II also has an effective ownership of 53.85% of Ras Laffan Olefins Cracker Company Limited. The group’s facilities are all based within the State of Qatar, and are primarily engaged in the production of olefins, polyolefins, alpha olefins, and chlor-alkali products.