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Qatar Industrial Co. posts USD10.7m profit in Q1
(MENAFN) Qatar Industrial Manufacturing Company (QIMC) recorded a net profit of USD10.7 million in the first quarter of the year, marking an increase by 15 percent year-on-year, Gulf Times reported.
The Company has managed to make the profit in spite of lower sales, which decreased by 3 percent to USD22.5 million. Additionally, the costs of sales increased by the same percentage and reached USD18.85 million.
Supplementary income also decreased by 2 percent and went down to USD491k. General and managerial expenditures increase by 1 percent to USD3.66 million.
The Company has managed to make the profit in spite of lower sales, which decreased by 3 percent to USD22.5 million. Additionally, the costs of sales increased by the same percentage and reached USD18.85 million.
Supplementary income also decreased by 2 percent and went down to USD491k. General and managerial expenditures increase by 1 percent to USD3.66 million.
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