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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




Tags: profit | Utility | QEWC |

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