Petrochemicals and metals company Industries Qatar posted a 5.9 per cent rise in fourth-quarter net profit on Sunday, but still trailed analysts' forecasts as losses from fertiliser shutdowns hurt profitability.
The Gulf's second-largest chemical producer by market value behind Saudi Basic Industries, made a net profit of 1.8billion Qatari riyals for the fourth quarter, it said in a statement, compared with 1.7bn riyals a year earlier.
Analysts polled by Reuters on average expected the company to post quarterly profit of 2.4bn riyals.
Shutdowns in the company's ammonia and urea facilities weighed on the results, QNB Financial Services said in a research note.
Read more: http://www.thenational.ae/business/economy/industries-qatar-fourth-quarter-net-profit-misses-forecasts#ixzz2LoLX12b1
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