DOHA petrochemicals and metals industries Qatar (IQ) company a 23.7% jump in third quarter net profit posted on Sunday, Reuters calculations show, beating average analysts forecasts.
The Gulf's second largest chemical producer by market value behind Saudi Basic Industries (Sabic) made a net profit of 2.56 billion Riyals ($ 703.2 million) for the thirdquarter, according to Reuters calculations, compared with 2.07 billion Riyals a year earlier.
Analysts surveyed by Reuters on average expected the company to post quarterly profit of 2.2 billion Riyals.
The company have no third quarter figures in a bourse statement provided. Reuters calculated the figure profit for the third quarter of last week.
IQ made a nine-month net profit of 6.6 billion Riyals compared with 6.2 billion Riyals a year ago, a company statement said without giving further detail.
In August, the company reported a net profit for the first half of 4.04 billion Riyals.
Petrochemical prices have strengthened in recent months, but concerns remain about the impact of a global slowdown on the industry profit in's world's top oil-exporting region.
IQ inaugurated in February, Qafco 5, a facility of 1 million tons of urea while Qatar petrochemical company, which is 80 percent owned by industries Qatar and 20 percent held by France's total-began her polyethylene 3 factory that during the second quarter.
Qatar has started a massive home building programme in preparation to host the 2022 World Cup soccer tournament, with plans to 11 billion dollars on a new international airport, $ 5.5 billion on a deep water seaport and spend $ 1 billion for a transport corridor in the capital, Doha.
In April said the steel segment was expected IQ "considerably benefit from the progressive and broad infrastructure plans of Qatar".
IQ shares were trading up 1.5 percent on the Doha bourse on Sunday.
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