Qatar Electricity and Water Co beats fourth-quarter estimates as profit jumps 9% . . . . . . . . . . . . Qatar Electricity and Water Co. (QEWC) reported on Monday a 9.3% increase in net profit in the fourth quarter, topping analysts’ forecasts. Qatar’s monopolistic utility company made profit of QAT360.5 million ($99 million) in the last three months of 2014, up from QAR329.9 million in the same period a year before. Analysts by EFG Hermes projected fourth-quarter profit of QAR331.5 million. QEWC said in its full-year statement that it made QAR1.53 billion in 2014, up 11% from 2013. The state-run company also announced a QAR7.5 per share cash dividend for 2014, compared with QAR6.82 in 2013. Shares in the company however retreated 2.0% on the Qatari stock market, as its positive earnings failed to overcome a general negativity on the market. The company still has a strong outlook, considering Qatar’s growth is expected to be the strongest in the region in 2015. #egyptyard
Posted on: Mon, 26 Jan 2015 14:47:38 +0000
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