DUBAI: Petrochemicals and metals company Industries Qatar (IQ) posted a 4.2 percent decline in fourth-quarter net profit on Thursday, just below analysts' forecasts.
The Middle East's second-biggest petrochemicals company by market value, behind Saudi Basic Industries, made a net profit of 1.60 billion riyals ($440 million) for the three months to Dec. 31, compared with 1.67 billion riyals a year earlier, according to Reuters calculations based on an IQ statement in the Qatar Tribune newspaper.
Analysts polled by Reuters had on average expected the company to post a quarterly profit of 1.62 billion riyals.
IQ proposed on Jan. 8 a cash dividend of 7 riyals per share for 2014.
The company reported annual net profit of 6.3 billion riyals for 2014, down 21 percent from 8.01 billion riyals a year earlier.
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