Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Qurain Petrochemical’s First-Quarter Profit Drops 78%

(Corrects to reflect amended company statement.)

July 30 (Bloomberg) -- Qurain Petrochemical Industries Co., a Kuwait-based maker of plastics and chemicals, said first-quarter profit fell 78 percent, mainly because of losses incurred by Kuwait Aromatics Co.

Net income in the three months to June 30 declined to 124,843 dinars ($442,705), or 11 fils a share, from 563,268 dinars, or 51 fils per share, a year earlier, the company said in an e-mailed statement today.

Qurain Petrochemical has a 20 percent stake in Kuwait Aromatics Co., while Petrochemical Industries Co. and Kuwait National Petroleum Co. each own 40 percent.

To contact the reporter on this story: Fiona MacDonald in Kuwait at fmacdonald4@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.