Industries Qatar soars despite lower annual profit
The QE 20 Index advanced by 1.54 per cent to 11,724.20 points on Monday, February 17. Market bellwether Industries Qatar jumped by 7.40 per cent to QAR193.10. Earlier in the day, the market heavyweight said that the financials revealed a net profit of QAR8 billion ($2.16bn) in 2013 versus QAR8.4bn ($2.26bn) in 2012 and the earnings per share (EPS) amounted to QAR13.24 in 2013 compared with QAR13.95 in 2012. Gulf Warehousing Company posted the biggest decline, ending down 5.24 per cent to QAR39.80. Earlier on Sunday, the annual shareholders meeting agreed on the distribution of a 15 per cent cash dividend, equal to the value of the value of QAR1.50 per share.