Q1 2016: as weak as expected
IQ released Q1 2016 figures that showed a net profit down -26.68% to QAR697.029m compared to the same period a year ago. Sales at the end of Q1 2016 accused a decline of 12.6% to reach QAR1.147bn vs. QAR1.312bn in the same period of 2015. By segment, the steel activity (the group’s main activity)’s net profit decreased by 6.71% to QAR197.257m. The Fertilizers segment suffered the largest drop as its net profit was in a negative territory to QAR-3.345m.
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