Wednesday, Aug 08, 2012

DOHA (Zawya Dow Jones)--Metals-to-fertilizer conglomerate Industries Qatar, the Gulf state's second largest company by market value, posted Wednesday a slight rise in second quarter net profit to 2.14 billion Qatari riyals ($588 million), broadly meeting analyst expectations.

According to Zawya Dow Jones calculations, the second quarter net profit rose 3% to QAR2.14 billion, up from QAR2.08 billion in the year earlier period.

The result was roughly in line with EFG Hermes' forecast of QAR2.17 billion and the QAR2.13 billion analysts at Sico had penciled in.

The company said it made a first-half net profit of QAR4.04 billion, down slightly from 4.17 billion in the year earlier period.

IQ's shares were trading up 0.2% at QAR135.70 in a slightly positively overall market.

-By Alex Delmar-Morgan, Dow Jones Newswires; +974 6659 9818; alex.delmar-morgan@dowjones.com; Twitter: ZDJnews

Copyright (c) 2012 Dow Jones & Co.

(END) Dow Jones Newswires

08-08-12 0751GMT