Qatar’s QNCC Q3 profit rises marginally

Qatar National Cement Co Monday posted a one per cent rise in third-quarter 2009 net profit to 69.9m Qatari riyals (US$19.2m) over the year earlier period.

In a statement on the Doha bourse website, the company said nine-month profit rose to QAR323.2m (US$88.7m)from QAR320.9m (US$87.8m) a year earlier. First-half net profit for 2009 was QAR253.3m, while third-quarter net profit in 2008 was QAR69.1m, according to Zawya Dow Jones data.

The company said nine-month earnings per share rose to QAR7.24 from QAR7.19 a year earlier. The company didn’t give any details about the reason for the slight rise in profit.

Qatar National Cement shares closed up 3.3 per cent at QAR84.9 on the Doha Securities Market Sunday.