October 27, 2019 / 9:26 AM / 19 days ago

Industries Qatar reports 47% fall in nine-month net profit

DUBAI (Reuters) - Industries Qatar on Sunday reported a 47% fall in nine-month net profit to 2 billion Qatar riyals ($549.22 million) citing lower sales and prices.

The company said in a statement it had been hurt by a global slowdown, the global trade row and volatile commodity prices as well as planned and unplanned maintenance.

The Middle East’s second-biggest petrochemicals company by market value said its earnings per share fell to 0.34 riyals from 0.63 riyals a year earlier.

($1 = 3.6415 Qatar riyals)

Reporting by Nafisa Eltahir; editing by Jason Neely

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