IQ posts 12% jump in 2017 profit to QR3.3bn:
"Market heavyweight Industries Qatar (IQ) – a holding company with interests in the production of fertiliser, petrochemical and steel products, has reported about 12% year-on-year increase in net profit to QR3.3bn in 2017, exceeding the budget expectations. The company, whose earnings-per-share was QR5.48 at the end of 2017, has proposed a total QR3bn annual dividend distribution, equivalent to a payout of QR5 per share and representing a payout ratio of 91.2%, its spokesman said. The financial and operational performance is considered “credible” amidst several challenges including the effects of the blockade, unplanned shutdowns in some facilities, a general increase in raw material costs (specifically the cost of raw materials of steel), higher utility prices and muted demand in some geographies, IQ said."
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