Qatar Industrial Manufacturing Reports QR141.7 Million Net Profit

Doha, October 23 (QNA) - Qatar Industrial Manufacturing Company (QIMC) disclosed the interim financial statements for the period ending September 30, 2014. The interim financial statements revealed a net profit of QR 141.7 million for the nine months period ended September 30, 2014 in comparison to a net profit of QR 148.1 million for the corresponding period last year. The companys Earnings per Share (EPS) amounted to QR 2.98 for the period ended September 30, 2014 versus QR 3.12 for the corresponding period in 2013. QIMC was established in 1990 with 20%:80% government-private equity interests respectively. The establishment of QIMC was in fact a clear manifestation of the particular attention given by the State of Qatar to the issue of the private sectors participation in the process of economic development of the country through investing in small and medium scale industries. Currently, QIMC has equity interest in 13 operational projects in various industrial sectors including chemicals, petrochemicals, construction materials and food processing. QIMC is also currently investigating the economic feasibility of a number of other projects in collaboration with local and foreign interested parties. (QNA)