Wednesday, Feb 15, 2012
0728 GMT [Zawya Dow Jones]--Industries Qatar shares trade +0.5% at QAR134.70 on the Doha market. The company reported a 45% year-on-year jump in 2011 net profit to QAR7.93 billion and proposed a final dividend distribution of QAR7.50 per share. IQ's fourth-quarter net profit of QAR1.67 billion depicts a 10% increase on year, on account of average prices still being higher and because of added capacities from Qapco and Qafco, says Beltone Financial. Notes earnings still miss its estimates by 12%. "The main reason for the disparity in the actual results is Qafco and Qatar Steel posting weaker than expected results, and with the group's associates booking losses." Has a hold rating on the stock; target price QAR128.36. The broader market is down 0.2% at 8676.90. (nikhil.lohade@dowjones.com)
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(END) Dow Jones Newswires
15-02-12 0739GMT
