Qatar Steel posts higher profit in 2016

摘要

Qatar Steel, one of the largest GCC steel producers, remained in the black in 2016, posting a higher profit than in 2015. Despite different challenges, the total steel segment profit reached $297 million (QAR 1.08 billion) in 2016,12% up year-on-year. The better financial performance was attributed to the significant improvement of operating costs, which neutralized the adverse impacts of lower demand due to spending cuts, delays and cancellation of major government and infrastructure projects in the region.