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Mesaieed Petchem reports QR899.4m in H1 profit

July 31, 2014 8:59 am

Qatar’s Mesaieed Petrochemical Holding Co (MPHC), a subsidiary of Qatar Petroleum, has reported a net profit of QR899.4m for the half year ended June 30, 2014, the Peninsula has reported. “MPHC closed the half year ended June 30, 2014 with strong earnings of QR899.4m clearly indicating the group’s ability to generate strong profits and cash flows. All group companies exceeded their budgeted expectations. In addition, cash generation remained strong, with a total of QR894.8m of cash from operations across all group companies for the half year. These results bode well for the balance of year outlook,” said Dr Mohamed bin Saleh al Sada, the minister of energy and industry, and Chairman of MPHC.