QEWC ... utilities monopoly.
Qatar utility reports 8.8pc Q3 profit rise
DUBAI, October 13, 2014
Qatar Electricity and Water Company (QEWC), the country's monopoly utility firm, reported a 8.8 per cent increase in third-quarter net profit on Monday, according to Reuters calculations, beating analyst estimates.
The state-run utility made a profit of QR454 million ($124.7 million) in the three months to September 30, compared to QR417.3 million ($114.5 million) in the prior-year period, Reuters calculated based on financial statements and figures published in local media.
EFG-Hermes forecast that QEWC would make a quarterly profit of QR403.7 million ($110.8 million), while HSBC forecast it to make QR422 million ($115.8 million).
QEWC made QR1.2 billion ($329.3 million) in the first nine months of 2014, up from QR1.1 billion ($301.8 million) in the same period last year, according to a statement to the Qatar bourse. - Reuters