Qatar Industrial Manufacturing Company Q.P.S.C. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 01, 2020 at 01:38 pm EST
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Qatar Industrial Manufacturing Company Q.P.S.C. Announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced sales was QAR 99.426 million compared to QAR 85.257 million a year ago. Operating income was QAR 11.196 million compared to QAR 12.866 million a year ago. Net income was QAR 17.154 million compared to QAR 30.487 million a year ago. Basic earnings per share from continuing operations was QAR 0.04 compared to QAR 0.06 a year ago. For the nine months, sales was QAR 277.986 million compared to QAR 268.677 million a year ago. Operating income was QAR 22.632 million compared to QAR 31.386 million a year ago. Net income was QAR 59.538 million compared to QAR 100.497 million a year ago. Basic earnings per share from continuing operations was QAR 0.13 compared to QAR 0.21 a year ago.
Qatar Industrial Manufacturing Company QPSC is a Qatar-based company engaged, along with its subsidiaries, in industrial manufacturing and various types of industrial investments inside and outside the State of Qatar. QIMC has equity interest in 13 operational projects in various industrial sectors including chemicals, petrochemicals, construction materials and food processing. The Company also investigates the economic feasibility of a number of other projects in collaboration with other local and foreign interested parties. The Company holds 51%-investment in a project, KLJ Organic-Qatar, which is expected to produce Chlorinated Paraffin Waxes (CPW) for the export market. The Companyâs subsidiaries include Qatar Metals Coating Company, National PaperIndustries, Qatar Sand Treatment Plant, Qatar Acids Company and Qatar Paving Stones.