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Industries Qatar earnings down 21.25%

Industries Qatar earnings down 21.25%
Photo Credit: Arabianeye-Reuters
Industries Qatar
IQCD
-0.17% 11.97 -0.02

Industries Qatar has announced its financial results for the ended year 2014, recording a drop in its net profit.

 

The company’s earnings totaled QAR 6.3 million in 2014, compared to QAR 8 million in 2013, declining by 21.25%.

 

Industries Qatar’s Board of Directors has called for QAR 4.2 billion dividends in 2014, equaling QAR 7 per share and representing 70% of the nominal value.

 

Meanwhile, the company’s annual revenues -assuming proportionate consolidation- posted nearly QAR 18.2 billion in 2014, retreating by QAR one billion or 5.4% compared to the previous year.

 

Noteworthy, total revenues stood at QAR 4.7 billion by the end of Q4, falling by QAR 0.1 billion or 2.9% compared to Q3.