Mesaieed Petrochemicals Net Profit Rises to QR666 Million in First Half of 2018

August 07, 2018

Mesaieed Petrochemicals Holding’s net profit amounted to QR666 million, compared to QR469 million for the same period of the previous year, while the company’s earnings per share amounted to QR0.53, versus QR0.37 for the corresponding period of 2017.

The Group’s Comments:

Mesaieed Petrochemicals’ total revenues increased by 41.3% to QR613.2 million in the first half of 2018, of which QR589.6 million was generated from the results of joint ventures. Mesaieed’s total expenses increased by 31.3% to QR10.9 million, and the company generated revenues from tax rebates amounting to QR64.2 million, compared to QR42.8 million from last year. As a result the net profit increased by 42.2% to QR666 million.