MPHC posts QR600m earnings

April 15, 2014 9:42 am

Mohamed bin Saleh Al Sada, the Qatari energy and industry minister and chairman of Mesaieed Petrochemical Holding Co (MPHC) has said the firm has achieved higher revenues than average of petrochemical sector returns in the region, the Peninsula has reported. MPHC made a net profit of QR600m for the four-month period ended December 31, 2013, closing the period with total assets of QR13.2bn, the minister said. “The company derives its strength from being an umbrella for three of the most successful companies founded by Qatar Petroleum in petrochemicals including Qatar Chemical Co (Q-Chem 1), Qatar Chemical Co 2 (Q-Chem 2) and Qatar Vinyl Co, which are profitable companies and with distinguished operating record, and have the ability to generate strong operating cash flows,” said Al Sada.