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Industries Qatar Q3 net profit falls 55 percent

Wed Oct 14, 2009 2:14am EDT

(Refiles to Remove extraneous word in first paragraph)

DUBAI, Oct 14 (Reuters) - Industries Qatar IQCD.QA posted a third-quarter net profit of 1.17 billion Qatar riyals, down 54.6 percent from the same quarter last year, according to Reuters calculations, meeting analysts forecasts.

Qatar's largest company by market value made a net profit of 3.8 billion riyals in the first nine months of the year, according to a statement on the bourse website.

It made a net profit of 2.58 billion riyals in the third quarter of 2008. Reuters calculated the third quarter based on previous financial statements.

The company did not give a breakdown of its results.

Analysts surveyed by Reuters in early October estimated Industries Qatar third-quarter at an average of 1.08 billion riyals. [ID:nL4509710] (Reporting by John Irish; Editing by Inal Ersan)



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