Industries Qatar (“IQ” or “the Group”; QE Ticker: IQCD), today reported a net profit of QR 3.5 billion for the six-month period ended 30 June 2021, representing an increase of 391% compared to the same period last year.
Updates on macroeconomic environment
The economic momentum built upon effective ongoing vaccination campaign and ease of lockdowns in major markets allowed sequential recovery and led to a stronger consumer demand and rising oil prices. In addition, industry supply constraints and global logistical bottlenecks remained evident throughout the period across industrial sectors, especially for petrochemicals and fertilizers. These macro imbalances enabled positive trajectory of commodity prices and led to margin improvements.